2024 Social Security Increase Amount For Seniors. Utah's budget has grown from around $8 billion to $30 billion over the last 20 years — an increase of 275%. Seniors and other recipients will get an increase of 3.2%, a much smaller boost than the 2023 and 2022 increases of 8.7% and 5.9%, respectively.
The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last. People who wait to claim social security can get even more.