2024 Social Security Increase 2024 Lok. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to. It would allow the social security administration to continue making all payments on time and in full through 2054 — 20 years longer than the current projection.

The increase is much lower than the. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.