Social Security 2024 Cost Of Living Increase. Projections show the social security fund will run out of money in 2038 and,. Multiply any amount over $1,174 up to $7,078 by 32%.

More than 66 million retirees receiving social security checks will see their monthly government payments rise 3.2%, thanks to the social security administration’s cost. That adds about $50 monthly to the average retirement benefit consumers will.