Cost Of Living Increase 2024 Social Security Calculator. The amounts required for updating the 2022 versions of the social security benefit calculator are as follows: 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.

The current version of the detailed calculator is 2024.2, which we released on july 31, 2024. Starting in january, social security benefit payments for 66 million beneficiaries will rise 3.2% to keep up with the cost of living, the social security administration said thursday.