Social Security 2024 Cost Of Living Increase 2024. The new amounts, the result of the agency's annual. The monthly maximum federal amounts for 2024 are $943 for an eligible individual, $1,415 for an eligible individual with an eligible spouse, and $472 for an essential person.
This means that more than 71 million americans will see a change in their benefit payments. For retired couples where both partners receive benefits, the average payment is expected to increase from $2,939 to approximately $3,033.