Social Security 2024 Increase Amount Increase. For 2024, the limit for substantial gainful activity (sga) is increasing to $1,550 per month (up from $1,470 in 2023). The senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024.
More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. The total amount of social security taxes paid in and the retirement age.