Social Security Changes to Expect in 2025
Saturday, 25 May 2024, 07:44
Social Security Adjustments 2025
Everything from monthly benefits to the amount of payroll tax select workers owe could change in the upcoming year. Over 51 million retired-worker beneficiaries received an average Social Security check of almost $1,915.26 per month, playing a key role in retirees' financial stability.
- Impact of COLA Increase: A modest increase in benefits expected to address inflation concerns.
- High Earners and Payroll Tax: High earners likely to owe more in payroll tax.
- Maximum Monthly Benefit: Lifetime high-earners to see an increase in maximum monthly benefit.
- Disability Income Thresholds and Early Filer Withholding: Adjustments to disability income thresholds and early filer withholding expected.
- Qualifying for Benefits: Earning Social Security benefits may become incrementally tougher.
The changes for 2025 are crucial for retirees and future beneficiaries to stay informed about their Social Security benefits.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.