Three 2025 Social Security Changes You Need to Know

Although lawmakers have not yet acted to shore up Social Security’s solvency issues, there are a few changes in store for next year. According to an article by The Motley Fool on Aol, Social Security will experience a bit of a shake-up in 2025. Changes include:

• Increased benefits – the cost-of-living adjustment (COLA) means benefits are rising by 2.5 percent
• Earnings can increase – the earnings’ test limit is increasing to $23,400
• Wage cap raised – workers will be taxed on the first $176,100 of income

The Seniors Trust is committed to improving the financial well-being 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 COLA, increased minimum benefits, and will ensure the long-term solvency of the Social Security program.