Full retirement age in 2025
Unfortunately, this year you will have to wait a little bit longer to reach full retirement age (FRA). This is one of the Social Security changes and directly impacts seniors. Right now, FRA steadily increases for people born between 1955 and 1960, reaching 67 for those born in 1960 or after.
So, to make things clear, in 2025, FRA is 66 years and 10 months. Now, the big question is how this one of the Social Security changes will impact your benefits. This is a great question, and we have the answer to it right here.
If you retire at 62, your monthly payments will be lowered. The decrease is determined as 5/9 of 1% every month during the first 36 months prior to FRA. Then 5/12 of 1% each month for any extra months beyond 36.
Delaying retirement beyond FRA will increase your benefits. Your payments increase by 8% each year for every year you postpone getting Social Security after the FRA (up to age 70).
The Social Security earnings test
In case you decide that you still want to work while you are receiving social security benefits, you have to be aware that your earnings could temporarily reduce your monthly payment. This is one of the new social security changes, and it is called the Social Security Earnings Test. This will apply every year until you reach your full retirement age (FRA).
But before your benefits are affected by this change, you still have the chance to earn more. Let’s say you are below FRA. When this is the case, the Social Security Administration will withhold $1 in benefits for every $2 you earn over $23,400. This limit was increased from the former one of $22,320.
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9 thoughts on “5 Social Security Changes Coming In 2025”
So when the Biden Administration lied about our inflation rate, our COLA stays low…
Everything doubled and tripled in price over Trump 45… Thanks Joe… In fact thanks for all these things… More stupid stuff Trump needs to fix… Good news is we have at least 4 affordable years coming now…
when will no tax on ss go into effect!!
Interesting that major changes occur when “baby boomers” are seeking to receive SSA based on an assured plan that others have enjoyed. I have always believed that SSA problem is the free funds given away called SSI. Most recipients of SSI have NOT paid a penny into the system but yet they collect money based on COL increases.
Some are just born w/birth defects due to Mom drugs, alcohol, cigarettes, life style choices and lack of prenatal care; some receive & never worked because of addictions that have them handicapped; some may have paid in system but due to handicap from wrong choices not enough paid in due to poor work history for SSA. legitimate hard working people who paid faithfully are penalized because of where they worked yet they paid SSA faithfully. the system is NOW unfair, people are being cheated and no one (politicians esp.) care as they do not need SSA. What a real trick or
lie the Government has successfully played on baby boomers!
Please I’ve been paying Social Security and Medicare since 15 years old now I’m disabled and need my benefits, I have 2 serious terminal illnesses,and need if any thing more in my monthly check I’m barely getting by my rent is more then my monthly check and my son helps me ,please don’t cut any of my SSD check ,I’ve worked hard all my life ,and am ill now and don’t need to stress about being homeless, I have enough stress as it is ,PLEASE DON’T CUT MY SSD I NEED IT TO SURVIVE 🙏🏼✝️🙏🏼✝️ DAVID H
The government spent our taxes but now I cannot pay my bills and groceries. They don’t care as long as they get their $180,000 a year. Probably never worked a day punching a clock. Let’s not even talk about spouses. We are paying taxes for them to have face lifts. They don’t have to worry about anything. Suicide is better than living $1200.00 a month you’ll see a lot of our seniors make this decision. It’s bad out here!!!
Well it seems like no matter what you do to make yourself happy you can always do something to make yourself feel better. The people in this world who are making all of these erroneous decisions are not thinking about all of us only their select group of people that they want to be part of the injustice of the world to continuously make themselves better and the rest of us just suffer. We all should have equality the same way as everyone else in the world. Being a senior is not a privilege but a right to choose to be treated equally as others. Sometimes we cannot go and get employed because of our abilities to be treated differently than others but we are entitled to our rights and freedoms to choose what we want and what we need.
Social Security should Not be taxed, it’s our money!
I dont get enough to ever retire. I will die at work. At 67will go back full time I started drawing at 63because at 67 my payment would have been 1,450.00 or so which is not enough to get by. I started drawing at 63 and plan never to retire. So just keep sending my check and you won’t hear from me again because all my questions have been answered. I will leave my email and name if you ever have any questions for me feel free. PS. You should let me buy real supplements with flex cards, such as super greens or balance of nature red and green. Thank You. Sincerly, Ronald F. Sullivan Jr
Yea The Truth Hurts Don’t it.