Social Security Changes: What You Need to Know for 2025
Thursday, 17 October 2024, 07:05
Key Social Security Changes for 2025
The Social Security system is set to undergo several adjustments in 2025 aimed at increasing the sustainability of benefits. These updates include cost-of-living adjustments, alterations in eligibility criteria, and changes in taxation for higher earners.
Main Changes Highlighted
- Cost-of-Living Adjustments (COLAs): Increased benefits to keep pace with inflation.
- Retirement Age Modifications: Potential changes in the age at which full benefits are available.
- Tax Threshold Adjustments: New income thresholds affecting taxation on benefits.
- Benefit Calculation Revisions: Adjusting how future benefits are calculated for new recipients.
Stay informed about these significant Social Security changes and plan your finances accordingly.
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.