A Few Big Changes Coming to Social Security in 2025

Social Security beneficiaries will see a couple of big changes this year. According to a report by NBC5 Chicago, benefit checks will increase by about $50 per month. This reflects the 2.5 percent cost-of-living adjustment (COLA). The jump is intended to help retirees cope with inflation which has brought higher prices for food, fuel, and other goods and services. Recipients will begin seeing the higher payments in their January Social Security benefit payments.

There are other significant Social Security changes that you should be aware of as well:

• The maximum amount of earnings subject to the Social Security tax will increase from $168,600 to $176,100 in 2025.
• The full retirement age will be 66 years and 10 months in 2025. The earnings limit for people reaching their “full” retirement age will increase to $62,160, while the earnings limit for workers who are younger than “full” retirement age will increase to $23,400.

The Seniors Trust is committed to improving the lives of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits. This bill will also ensure the long-term solvency of the Social Security program.