Key Social Security Changes and COLA Boosts to Expect by 2025
TL;DR Summary
In 2025, Social Security will undergo several changes: a 2.5% cost-of-living adjustment will increase average benefits, though rising Medicare Part B premiums may offset this gain. The earnings-test limit for those below full retirement age will rise, allowing more income before benefits are withheld. Higher earners will face increased Social Security taxes due to a raised wage cap. Additionally, the value of work credits needed to qualify for benefits will increase, potentially requiring more work hours to earn them.
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