Good news for Social Security beneficiaries: This is the new maximum amount starting in January 2025

Social Security beneficiaries will see a 2.5% cost-of-living adjustment (COLA) starting in January 2025. This increase, which averages out to about $50 more per month for retired workers on average, is designed to help beneficiaries keep up with the rising cost of living, even as inflation cools down from recent highs

According to the official SSA payment table, for 2025, the maximum benefit at age 62 will be $2,831; at age 65, $3,374; at age 66, $3,795; at age 67, $4,043; and at age 70 and older, $5,108.

To get a rough estimate of what your monthly payments will be next year, multiply your current benefits by 1.025.

How to claim this maximum amount

To calculate your retirement money, the SSA will examine at least 35 years of work. You must earn or exceed the salary cap in each of those 35 years.

In addition, you must pay Social Security payroll taxes on the maximum taxable income in those 35 years of highest earnings. The amount changes every year. In 2025, the number will be more than $160,200.

In reality, very few Americans will claim this amount. People earning salaries in the six-figures for the majority of their life will have money saved by various methods for retirement without the need to access social security.

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