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On average, Social Security retirement benefits will rise by about $50 per month starting in January 2025. But if you factor in Medicare Part B payments, your net increase will be smaller.
Image source: Getty Images. 1. A new COLA will (slightly) increase your checks. The COLA for 2025 will be 2.5%, which is the lowest adjustment since 2021.
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
Data source: Social Security Administration, The Senior Citizens League. Payments have been rounded to the nearest dollar. 2. Social Security's full retirement age will increase in 2025
In 2022, 2023, and 2024, beneficiaries enjoyed respective increases to their Social Security checks of 5.9%, 8.7%, and 3.2%. In 2025, this increase might be a bit more modest than in recent years.
Meanwhile, the average Social Security check for survivors of deceased workers should also climb by $38 per month, from $1,513 to close out 2024 to an estimated $1,551 in 2025.