Starting Next Month Retirees Will See Bigger Social Security Benefit Checks

Social Security recipients will see a modest increase in benefits starting in January when the new 3.2 percent cost-of-living-adjustment (COLA) takes effect. It’s intended to help retirees afford higher prices for food, fuel, and other goods and services.

According to a report by NBC4 in Washington, D.C., the average recipient will see an increase of about $54 per month. The average benefit for all retired workers will be $1,907 in 2024, that’s $59 from this year’s average benefit payment of $1,848.

But even with the COLA, too many seniors are struggling financially. The Seniors Trust is devoted to improving Social Security for all retirees. We want Congress to enact the Social Security Expansion Act which will establish a fairer COLA that reflects the unique expenses facing seniors, as well as increase benefits, create a strong and long-lasting trust fund, and guarantee every retired worker receives adequate Social Security benefits.