Over 72.5 million Americans will benefit from the Social Security COLA increase for 2025. However, this 2.5% boost will not take effect until January 2025. Thus, payments will remain the same in October, November, and December for retirees in the United States.
Therefore, retirees who have filed at Full Retirement Age in 2024 can receive from Social Security up to $3,822. They will get 100% of their benefits, but they will not take advantage of the delayed credits which could have given them $4,873 if they filed at 70 in 2024.
Largest Social Security payment at Full Retirement Age in 2025
The Maximum Social Security Benefit payment for workers who retire at Full Retirement Age in 2025 will be $4,018, up from $3,822. Bear in mind that Full Retirement Age is not the same for all Americans.
For example, the Full Retirement Age in 2024 is 66 years and 8 months old. So, it will be 66 years and 10 months old in 2025. For your information, those who were born in 1960 or later will have their Full Retirement Age at 67.
It has kept increasing over time, so 65 years old is no longer the Full Retirement Age in the United States. Now, you must be wondering how to achieve a huge payment worth $4,018 in 2025. Let’s see how!
How to get $4,018 in 2025 from Social Security
The Agency has set several requirements to get the largest payments in retirement. In this way, only those who achieve it can receive really large payments. The requirements are:
- filing for Social Security at Full Retirement Age (66 years and 10 months)
- working for a minimum of 35 years, more in some cases if you do not achieve the following condition
- earning the contribution and benefit base (taxable maximum) for 35 years
- work in jobs that pay payroll taxes, that is, they are covered by SSA
To know the future amount of your Social Security payments, you can simply download a Statement. In this way, you will see what you could earn at different ages and when it is best to retire.