Social Security 2025: Key Changes Including COLA Adjustment
Saturday, 12 October 2024, 00:46
Major Social Security Updates for 2025
As we leap into 2025, it’s essential to acknowledge the pivotal changes regarding Social Security. Beneficiaries will notice a shift as the Cost-of-Living Adjustment (COLA) is introduced, translating into higher monthly benefits. Workers should be prepared for potential changes in payroll taxes affecting their earnings.
What to Expect:
- Increased monthly benefit amounts for retirees
- Adjustments to payroll tax rates
- Updated eligibility criteria for new applicants
It’s imperative for both beneficiaries and future retirees to stay informed about these transformations. Make sure to assess how these changes impact your financial planning strategies.
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.