In 2025, Social Security beneficiaries will receive a 2.5% cost-of-living adjustment, with the average monthly benefit rising to $1,974. The benefit formula remains the same, but the bend points are adjusted. The maximum possible benefit for those retiring at full retirement age in 2025 will be $4,018 per month. The contribution and benefit base will increase to $176,100, affecting both workers and retirees. Changes to the Social Security earnings test limits will impact those collecting benefits before reaching full retirement age. Stay informed as more significant changes may be on the horizon.

Read more at Nasdaq: 5 Social Security Changes Retirees Need to Know About in 2025