Americans to see a 2.5 % increase in social security payment in 2025
Americans will see a 2.5% cost-of-living adjustment to their benefit payments next year.
The Social Security Administration has said the cost-of-living adjustment will begin with benefits payable to nearly 68 million social security beneficiaries in January 2025. Increased payments to nearly 7.5 million recipients will begin on Dec. 31.
The earnings limit for people reaching their full retirement age in 2025 will increase to $62,160.
The earnings limit for workers younger than full retirement age will increase to $23,400.
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