Social Security Increase 2024 $600 2024 Increase. In 2024, social security will tax wages up to $168,600, up from $160,200 in 2023. Meanwhile, today, social security payments will go out for everyone with a birthday between the 11th and 20th.

The change takes effect in january 2024, though the tax rate on those wages, 6.2. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning.