As 2025 approaches, retirees and other Social Security recipients should be aware of several changes to benefits and services provided by the Social Security Administration (SSA). The SSA pays out retirement, survivor, and disability benefits to around 70 million Americans every month.
Key Changes for 2025:
* A 2.5% increase in monthly benefits starting January 2025
* New benefit amounts, including a maximum of $4,018 per month for single recipients and $1,976 for the estimated average monthly benefit
* Annual earnings limits for workers still employed but not yet at full retirement age, with thresholds set at $23,400 annually and $1,950 monthly
Customer Service Concerns:
* The SSA warns that “customer service will decline” if lawmakers do not pass a budget request to maintain current service levels
* Hiring freezes have been imposed due to lack of funding, potentially impacting customer service wait times
* If the funding request is not granted, over 2,000 additional employees may lose their jobs and customer service wait times could increase significantly
Social Security Fairness Act:
* Passed both chambers of Congress with bipartisan support, aiming to expand access to benefits for nearly 3 million Americans
* Repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), benefiting around 2.5 million beneficiaries
Source: https://www.newsweek.com/social-security-what-expect-2025-2001222