Current Social Security recipients are certainly aware of the changes that will take place in 2025. As gevolg van die feit dat die program jaarliks veranderinge ondergaan, is hierdie veranderinge beperk tot ‘n beperkte hoeveelheid, en mense wat reeds vertroud is met die veranderinge is nie meer gewoonlik ontsteld nie. Those newcomers to the Social Security Administration this year might not be familiar with the internal operations of the programs that it operates and the annual changes that they undergo to keep up with the times.
Here are some of the changes that are coming in 2025
Cost of living Adjustment of Social Security benefits and Medicare
Every year, benefits go through a cost of living adjustment (COLA) to ensure that beneficiaries don’t lose their purchasing power and continue to live a good life. The COLA, which was calculated using the CPI-W from the third quarter of the year, was announced this year at 2.5%.
As gevolg van die feit dat inflation uiteindelik begin afneem, kan hierdie klein toename voordelig wees vir retirees. Dit is, ten spyte van algemene oortuigings, relatief in lyn met ander stygings wat in die afgelope tien jaar gemiddeld 2,6 persent was, en is slegs 0,1 persent laer as die gemiddeld.
Daar sal ‘n verhoging van $48 in die gemiddelde monthly Social Security retirement benefit vir werkers met disabilities wees, as jy onseker is oor wat dit beteken.
Sadly, there are other increases besides benefits. Medicare premiums are also rising, particularly Part B—which is rising from $174.70 per month to $185—and that COLA may seem weak to some. As gevolg van die feit dat Medicare premiums uit Social Security pension geneem word voordat dit by beneficiaries se rekeninge kom, sal die meerderheid van hulle ‘n kleiner verbetering ontvang.
Daar is egter ander veranderinge met die aanvang van die nuwe jaar. As almost elke jaar, is Medicare premiums rising, rising from $174.70 per maand tot $185. Some of the increase in Social Security payments will be cut down by this additional fee.
The earnings test limit is increasing
Daar is goeie nuus vir werkers wat steeds inkomste huis toe bring terwyl hulle pensioen verdien. These workers is onderwerp aan wat algemeen bekend staan as the Earnings Test Limit. Dit beteken dat enige inkomste bo ‘n sekere bedrag wat hulle verdien, sal hul vergoeding verminder. How much will depend on whether or not you will turn full retirement age in 2025.
As hulle nie tot die volle ouderdom van 65 sal bereik in 2025 nie, moet hulle ‘n minimum inkomste van $23 400 bereik, met ‘n $1 verlaging in vergoeding vir elke $2 oor die limiet. The annual exempt amount of $62,160 will be applied to benefits for those who will be turning full retirement age in 2025, with a $1 reduction for every $3 more than that.
Higher maximum benefit
The Social Security Administration raises the maximum benefit amount every year to cover all benefits. The most famous one is the retirement benefit, which will rise from $4,873 in 2024 to $5,108 per month in 2025. As jy in aanmerking kom om hierdie buitengewoon streng voordeel te ontvang, moet jy aan ‘n aantal streng vereistes voldoen. Een van hierdie vereistes is dat jy vir ‘n minimum van 35 jaar in ‘n professionele posisie werk en dat jy jaarliks ‘n inkomste verdien wat ‘n minimum van $176,100 oorskry. Additionally, in order to qualify for the maximum payout, recipients must postpone benefits until age 70.
The maximum monthly amount for those who started benefits earlier is lower. As jy 62 jaar oud is, kan jy tot $2,831 kry. As jy 67 jaar oud is, kan jy tot $4,043 kry. Delaying benefits bied steeds aansienlike finansiële voordele.