United States citizens who have an accepted Social Security benefit should be aware of the new check changes. Likewise, those Americans who are planning to get a check in the future should also be aware that the payments may be different starting in 2025.
Be that as it may, we can confirm that the Social Security system will continue to work, that is why we should know what the established rules are and what the changes will be that we should always keep in mind. So whether you already have an accepted Social Security check or you are expecting to get a check in the future, these important facts are key for you.
Remember, if you are waiting for your Social Security benefit to finish processing it is possible that in 2025 you will start collecting a check. So check to see what the new changes will be that could directly affect your monthly benefit.
Social Security Changes in 2025
There are three elemental points to keep in mind for the upcoming year 2025. If we watch out for these three aspects we will be able to see that we will have more control over our economy. Thus, these three important aspects to keep in mind are:
- The Social Security COLA in 2025. Starting in January 2025, Social Security will send checks with a higher amount than in this year 2024. In this regard, we will encounter payments of up to $5,180 in cases with the maximum amount. The check will increase by 2.5% due to the COLA established by the Government.
- Changes in the retirement age. While it is true that in recent days we have seen that there is a possibility of changes in the retirement age, this will not be the case. In 2025 we will have that full retirement will be at 66 years and 8 months for citizens born in 1958. In the case of being born in 1960 or later, the age will be 67 years. There are no changes in this respect, therefore.
- Post-retirement income limit. If we collect Social Security payments and, in addition, have some extra income we will see changes in this regard. The threshold for this income will be $23,400 per year. In the case of higher income, Social Security will deduct $1 for every $2 over the limit.
The good thing about these changes is that they favor the majority of Social Security beneficiaries, so in reality there is no real negative part that forces us to lose part of our monthly benefit. In any case, remember that the Social Security benefit depends on many factors and we must control all of them in order to obtain the highest possible benefit.