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Social Security Spousal Benefits to Grow in 2024

Spousal benefits will increase in 2024, but not as much as other benefits in dollar terms. Why not? This is due to how spousal benefits are calculated, as explained here by Kailey Hagen. In January 2024, the Social Security COLA will be 3.2% for all beneficiaries. But that means different things for different people. The average retired worker collects $1,847/mo in 2023; their checks rise by $59 to $1,906/mo in 2024. But the same percentage boost for spousal benefits will only lift them by $28 from $885 to $913/mo. Full article here.

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