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The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year. That amounts to around $49 more in monthly benefits for the average retiree.
The SSA adjusts the maximum amount of income subject to Social Security tax annually. In 2025, this amount — also known as the contribution and benefit base or taxable maximum — increases from ...
1. Social Security benefits are getting a modest bump. Let's start with a bit of good news: Social Security benefits will increase by 2.5% in 2025, thanks to the annual cost-of-living adjustment ...
Oct. 15—Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase by 2.5% in 2025, according to a press release from the Social ...
1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January 2025. As of the latest data ...
In 2025, Social Security will tax wages up to $176,100, up from $168,600 in 2024. The change takes effect in January 2025, though the tax rate on those wages, 6.2 percent, will remain the same.
3. Maximum Social Security benefit also set to increase. The maximum Social Security benefit for a worker retiring at full retirement age will increase from $3,822 in 2024 to $4,018 in 2025. This ...
Consequently, workers who make $200,000 per year pay exactly the same amount in Social Security taxes as workers who make $2 million. In 2025, the maximum taxable earnings limit will increase to ...