Here’s How Much the Average Woman’s Social Security Benefit Will Rise in 2024

Shocker: It’s a lot less than what men are getting.

Social Security benefits are getting a boost in 2024, and the average check is expected to rise from $1,848 to $1,907 per month. But this average is based on all retired workers, so it doesn’t tell us a lot about what Social Security will look like for specific groups next year. For example, women typically have smaller monthly checks than men due to their history of earning less. Here’s a look at what that means for their benefits in 2024.

How much will the average woman’s Social Security check rise in 2024?

All Social Security recipients will get a 3.2% boost to their checks in 2024, thanks to the latest cost-of-living adjustment (COLA). But that translates to a different dollar-amount increase for every person based on their current benefit. At the end of October 2023, the average retired woman received about $1,658 per month from Social Security. If we add 3.2% to this, we get a benefit amount of about $1,711 per month for 2024. That’s a $53 increase. This is quite a bit less than what the average man can expect to receive. The typical male Social Security recipient gets about $2,039 per month, based on the Social Security Administration’s most recent data. Their average check is expected to grow by $65 per month to $2,104 in 2024. As for women claiming spousal benefits, they too will get a boost next year. Their average checks will climb from about $903 per month to $932 per month. Again, these are averages. Both men and women could see higher or lower increases than these, depending on the size of their current checks.

How do you know how much you’ll get from Social Security in 2024?

Contrary to popular belief, the Social Security Administration doesn’t just add 3.2% to your current checks to determine your benefit for 2024. Instead, it adds the COLA to your average indexed monthly earnings (AIME) and then reruns your Social Security benefit formula to reach your new benefit amount. But you can get a good estimation by adding 3.2% to your existing checks, as we did in the example. There’s a chance it might be off by a dollar or two, but it should be pretty close. The Social Security Administration will send official COLA notices by mail to all Social Security recipients in December. You’ll also be able to view your COLA notice in your my Social Security account if you have this set up. Once you’ve received this notice, you can begin planning your budget for 2024. If you are worried your checks may not go far enough, consider investigating other government programs, like supplemental security income (SSI). You may also qualify for Supplemental Nutrition Assistance Program (SNAP) benefits to assist with your grocery costs or Medicaid to help with healthcare. Your state or local government may offer additional assistance with essential costs as well. If you have any questions about your Social Security benefit, contact the Social Security Administration after you’ve received your COLA notice to ask. You can reach out via phone, email, mail, or by visiting your local Social Security office.