Major Social Security Updates for 2025: What Beneficiaries Need to Know
In 2025, Social Security will implement two significant changes: a 2.5% cost-of-living adjustment (COLA) and increased earnings limits for those collecting benefits while working. The COLA will raise the average monthly benefit by about $50, though many retirees find this insufficient due to inflation. Meanwhile, the earnings-test limit for early filers will increase to $23,400, allowing more income before benefits are reduced. These changes aim to help retirees manage their finances better amid economic fluctuations.