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The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year. That amounts to around $49 more in monthly benefits for the average retiree.
Image source: Getty Images. 1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January ...
This means more income of some workers will be subject to Social Security payroll taxes. For example, if you earned $175,000 in 2024, $6,400 would be exempt from Social Security payroll taxes.
However, if you'll be reaching full retirement age at any point in 2025 but aren't yet at that age at the start of the year, then you get a much higher earnings-test limit. In that case, it's ...
The Social Security COLA that is about to go into effect will result in a 2.5% increase in everyone's Social Security benefits. ... retirement age to start collecting Social Security will get an ...
As for what this means in more relatable terms, in that this year's average monthly Social Security payment stands at $1,907, a 2.63% increase would put 2025's average monthly benefit somewhere ...