Social Security Increase 2024 Update Pdf . The monthly maximum federal amounts for 2024 are $943 for an eligible. — during 2020, the inflation adjustment for social security benefits was 1.6%.
That took the average monthly benefit of $1,848 at the end of 2023 up to $1,907 at the start of 2024. It was followed by a 1.3% hike to payments in 2021.
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