Social Security Max 2024 Amount Increase. While the 2024 cost of living increase boosted benefits by 3.2%, there's still a cap on how much you're eligible to receive per month, depending on when you begin to receive benefits and how long. But that’s only part of the story, because the real maximum benefit is actually a fair.

Certain rules that reduce pensioners’ social security benefits have been in place for decades. With the increase, the average benefit check will increase $49, rising to $1,907 from this year’s $1,858, the agency said.