Key Social Security Updates for 2025: What Beneficiaries Need to Know

The Social Security Administration has announced significant changes effective January 1, 2025, impacting over 70 million beneficiaries. Key updates include a 2.5% Cost-of-Living Adjustment (COLA) to counter inflation, potential increases in the full retirement age to 68-70 years, and a higher taxable earnings cap rising from $160,200 to $176,100. These changes aim to maintain financial stability for retirees and people with disabilities, ensuring their benefits keep pace with economic conditions.