Social Security Increase 2024 Estimate By Age. 11 rows these estimates are derived from the intermediate assumptions in the 2024 trustees report. Fra is the claiming age at which the benefit paid to a retired worker will equal their primary insurance.

The awi is used to index an individual’s earnings through age 60 in the benefit calculation formula, and the cola is used to increase benefits annually. Any retirees who receive that will get an additional $145 per month next year, meaning their monthly payout will increase to $4,700 in 2024.