Once the Social Security Administration says there will be a 2.5% raise in 2025, a lot of retirees want to know what the highest benefit payment will be that year.
Starting in January 2024, the biggest Social Security payment will be $4,873, up from $4,555. When the COLA goes up, this payment will go up even more than it did in 2025. The biggest check will be written in 2025. How much money will people who are qualified get from it?
Maximum Social Security check possible in 2025 after COLA
The Social Security Administration has said that a worker will get the biggest payment possible in 2025. The truth is that a retiree who passes all the requirements will get a check for up to $5,108.
This means that if you file at age 70 and meet all the requirements to get $5,108 in 2025, you will get $235 more than in 2024. You can see that this boost is more than 2.5% for people who make more than the minimum wage and qualified.
Between 2024 and 2025, the biggest Social Security check will go up by about 4.82% for people who make a lot of money. If you have a job, you might want to know how to get a $5,108 check in 2025.
Requirements to get $5,108 in 2025 from Social Security
They will only send the biggest payment possible in 2025 to people who meet all the standards set by Social Security. For instance, you can’t get it if you haven’t worked for at least a certain number of years. There are three more standards as well.
- Have filed for Social Security at the age of 70
- Have worked for a minimum of 35 years
- Have earned the taxable maximum for 35 years
- Have had jobs covered by SSA
Just so you know, the taxable limit is the sum of the contributions and benefits. When the COLA goes up, it keeps going up. The highest amount of money that will be taxed in 2025 is now $176,100, up from $168,600.
Of course, this is the hardest part to reach because many American workers can work for 35 years and have their jobs covered by SSA. Many could even file for retirement at age 70. However, only a few people can make that much money.
Also See:- $1,415 SSI payment in November 2024: requirements and payment schedule
