How Much Will Social Security Increase 2024 At 62. If an increase is due, we calculate your new benefit amount and pay the increase retroactive to january following the year of earnings. If you retire at 62, your maximum benefit will be $2,710 and if you retire at full retirement age in 2024 your maximum benefit is $3,822, the ssa says.

But beyond that point, you’ll have $1 in benefits withheld per $2 of earnings. For example, if your earnings in 2023 will increase your.