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You've decided that 2025 is the year you're finally going to claim Social Security. The government bases your Social Security benefits on your income during your working years and your age at sign-up.
Income Limits 2024. Income Limits 2025. Benefit Reductions. If you're under FRA. $22,320 per year. $23,400 per year. $1 for every $2 over the limit. If you'll reach your FRA this year
More income will be subject to Social Security taxes in 2025 Most U.S. workers spend their careers paying Social Security payroll taxes. If you have an employer, both of you split the 12.4% Social ...
Image source: Getty Images. 1. The cost-of-living adjustment. Seniors get a bump in their Social Security benefit every year called the cost-of-living adjustment ().The 2025 COLA of 2.5% was ...
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 incorrectly agreed with this ...
This limit is the highest income subject to Social Security taxes, and you'll need to consistently reach this cap to earn the maximum possible benefit amount. In 2024, the limit is $168,600 per year.
The COLA for 2025 will be 2.5%, which is the lowest adjustment since 2021. It's also substantially lower than the COLAs in 2022 and 2023, which were 5.9% and 8.7%, respectively.
Image source: Getty Images. 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 ...