Social Security Wage Increase 2024
Social Security Wage Increase 2024. Next year, they'll get a 3.2 percent increase in their social security retirement benefits and supplemental security income (ssi) payments. The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200 for 2023).
On average, social security retirement benefits will increase by more. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.