3 Ways You Could Get More Social Security Benefits in 2025

Most older adults rely on Social Security to some degree in retirement. According to a 2024 Gallup poll, a whopping 88% of current retirees say they rely on their benefits, while 60% of that group say their checks are an important source of income.

Maximizing your benefits is a smart move, and there are numerous ways to increase your payments – from waiting to file claims to increasing your income to taking advantage of resources like spousal or divorce benefits.

However, sometimes waiting for a new year is enough to earn more benefits. There will be some changes to the program starting in 2025, some of which could get you higher payments without lifting a finger.

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1. A new cost of living adjustment (COLA) is coming

Next month, the Social Security Administration will announce the 2025 COLA. The latest estimate for next year's adjustment is 2.5%, according to a mid-September forecast from nonprofit advocacy group The Senior Citizens League.

If this prediction holds true, it will be the lowest since 2021 – when there was an adjustment of just 1.3%. However, even small COLAs can increase the benefit.

According to August 2024 data from the Social Security Administration, the average benefit amount among retirees is about $1,900 per month. If the COLA actually ends up at 2.5%, the average retiree's benefits would increase by about $48 per month starting in January 2025.

2. The maximum benefit is likely to increase

There is a cap on how much you can receive from Social Security, and in 2024 the maximum benefit is $4,873 per month.

The maximum payment does not always increase from year to year. For example, between 2018 and 2020 it fell steadily from $4,647 per month to $4,561 per month, and there was also a slight decline from 2022 to 2023. However, in most years there was at least a slight increase in the maximum possible benefit.

Data source: Social Security Administration. Table by author.

To receive the highest possible payments, you must meet three requirements: work for at least 35 years, delay claiming benefits until age 70, and always meet the maximum taxable income limit. This limit represents the highest income subject to Social Security and is $168,600 per year for 2024.

The average worker probably won't be on track to achieve maximum benefit, and that's okay. But if you're one of the few who can meet all three of these benchmarks, you could be in line for a raise in 2025.

3. The earning limit is likely to be increased

For those who continue to work after claiming Social Security, your wages may be subject to the earnings limit. If you are under full retirement age and your income exceeds a certain limit, your benefits will be temporarily withheld – and the more you earn, the greater the reduction.

But the good news for 2025? These limits increase most years, allowing you to earn more before your benefits are reduced.

Data source: Social Security Administration. Table by author.

Let's say you're under full retirement age and you earn $30,000 a year from your job. In 2024, this would equate to a reduction of $3,840 per year or $320 per month. But in 2022, assuming you still make $30,000 per year, that income would have resulted in a reduction of $5,220 per year, or $435 per month.

Now these reductions are temporary and you will receive adjusted payments once you reach your full retirement age. But in the meantime, higher earnings limits can help you keep more of your benefits if you keep working.

While we won't know exactly what to expect in 2025 until next month when the Social Security Administration releases the latest updates, it's likely that retirees will have some options for larger checks. And when you rely on your retirement benefits, every dollar counts.

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