Social Security and Supplemental Security Income (SSI) benefits for more than 72.5 million Americans will increase 2.5 percent in 2025.
The 2.5 percent cost-of-living adjustment (COLA) will begin with benefits payable to nearly 68 million Social Security beneficiaries in January 2025. Increased payments to nearly 7.5 million SSI recipients will begin on December 31, 2024. (Note: some people receive both Social Security and SSI benefits)
The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $176,100.
The earnings limit for workers who are younger than the “full” retirement age (see Full Retirement Age Chart) will increase to $23,400. (We deduct $1 from benefits for each $2 earned over $23,400.)
The earnings limit for people reaching their “full” retirement age in 2025 will increase to $62,160. (We deduct $1 from benefits for each $3 earned over $62,160 until the month the worker turns “full” retirement age.)
There is no limit on earnings for workers who are “full” retirement age or older for the entire year.
Your COLA Notice
In December 2024, Social Security COLA notices will be available online to most beneficiaries in the Message Center of their Social Security account.
This year, for the first time, Social Security beneficiaries will receive a newly designed and improved COLA notice that makes it easier for customers to find the information they need most.
The simplified COLA notice is now only one page, uses plain and personalized language, and provides exact dates and dollar amounts of a person’s new benefit amount and any deductions.
This is a secure, convenient way to receive COLA notices online and save the message for later. You can also opt out of receiving notices by mail when you sign in or create a Social Security account.
Be sure to choose how you want us to let you know when your COLA notice is ready to view in your Message Center: email only, text message only, or both text message and email.
Remember, our services are free of charge. No government agency or reputable company will solicit your personal information or request advanced fees for services in the form of wire transfers or gift cards.
Avoid falling victim to fraudulent calls and internet “phishing” schemes by not revealing personal information, selecting malicious links, or opening malicious attachments.
