Social Security Increase 2024 Calculator Bouw. The social security administration also makes annual cost of living adjustments, even as you collect benefits. The current version of the detailed calculator is 2024.2, which we released on july 31, 2024.

11 rows the awi is used to index an individual’s earnings through age 60 in the benefit calculation formula, and the cola is used to increase benefits annually. Here’s how you can calculate your increase.