2024 Social Security Increase Projections 2024. On average, social security retirement benefits will increase by more than. The current version of the detailed calculator is 2024.2, which we released on july 31, 2024.
The trustees project that social security’s annual cost will increase from 5.2 percent of gdp in 2024 to about 6.4 percent in 2078. Cbo projects that if social security paid benefits as scheduled, spending on the program would increase from 5.1 percent of gross domestic product (gdp) in 2024 to 6.7 percent in 2098.