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To get more Social Security news, follow the Press Office on X @SSAPress Other changes include an increase in the full retirement age (FRA) to 66 years and 10 months for those born in 1959, continuing the gradual shift toward an FRA of 67 for those born in 1960 or later
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What you need to know about the new Social Security benefit increase . On average, Social Security retirement benefits will increase by about $50 per month starting in January. Some workers could lose more money to Social Security payroll taxes in 2025 because the taxable wage base has gone up
This will be the costofliving increase in Social Security by 2025 . The Social Security Administration (SSA) said it was immediately beginning to pay retroactive benefits and will increase monthly payments starting in April to the more than 3.2 million people. It shows the total amount of benefits they received in the previous year, so they know how much Social Security income to report to the IRS on their tax return.