2024 Social Security Increase Percentage Of Income

2024 Social Security Increase Percentage Of Income. More than 71 million americans receiving social security benefits will see their checks rise by 3.2 percent next year to help them keep pace with inflation, the social security. In 2024, the annual increase to social security benefits (cola) will be 3.2%.

So, how does that affect the maximum benefit limit? Of that amount, 91.3% was from payroll tax contributions and reimbursements from the general fund of the treasury and 3.8% was from income taxes on social security benefits.