Workers with disabilities and survivor beneficiaries will receive a 2.5% increase to their monthly checks, as well. For the average worker with disabilities, their Social Security benefit is projected to rise by $38 per month, from $1,542 to end 2024 to $1,580 to begin the new year.

Retirement brings new financial challenges, particularly when Social Security makes up all or most of your income. ​​To ensure a good quality of life later on, it's vital to cut spending now.

The Social Security Administration has announced that Supplemental Security Income (SSI) payments will see a significant increase in December. This adjustment is part of the annual cost of living adjustment (COLA) based on inflation data.