Social Security October 2024 Income Limit. (the figure is adjusted annually based on national changes in average wages.) you lose $1 in benefits for every $2 in. The 2024 cola for supplemental security income (ssi) recipients began december 29, 2023, as january 1 is a holiday, the ssa said.

In addition to a 2024 cola announcement, the ssa will put out a fact sheet on other changes to the program, like what the wage cap looks like and what the earnings test. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.