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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.
Image source: Getty Images. 1. 2.5% cost-of-living adjustment (COLA) The big Social Security news from the last couple of months has been the 2025 COLA, which came in at 2.5%.This is under the 3.2 ...
Image source: Getty Images. 1. Social Security benefits will get a cost-of-living adjustment to account for inflation in 2025. Nationwide Retirement Institute reports that 66% of surveyed adults ...
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 ...
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
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.
In the early morning hours of Oct. 10, the SSA lifted the hood on the 2025 COLA, which offers something of a good news/bad news scenario for Social Security recipients in the upcoming year.
The Social Security Administration announced a 2.5% cost-of-living adjustment for 2025. That’s down from 3.2% this year but in line with the 2.6% average over the past two decades.