Social Security Tax Limit 2024 Increase. An average monthly benefit will increase by more than $50, from $1,841 to $1,900 per month. The individual tax brackets for ordinary income have been adjusted by inflation (table 1):

An average monthly benefit will increase by more than $50, from $1,841 to $1,900 per month. The earnings limit for workers who are younger than full retirement age (see full retirement age chart) will increase to $22,320.