Even those with moderate earnings can boost their Social Security retirement checks.

• In 2025, millions of beneficiaries will receive larger monthly payments due to a 2.5% cost-of-living adjustment.
• Those who consistently earn the maximum throughout their careers tend to receive the highest benefits.
• Experts suggest that even those with moderate incomes can benefit from delaying the claim of their Social Security benefits until age 70.

In January 2025, millions of Social Security beneficiaries will receive a 2.5% cost-of-living adjustment.

The Social Security Administration has announced that the maximum monthly benefit for a worker retiring at full retirement age will increase to $4,018, up from $3,822, starting this year.

According to the agency, the maximum benefits will see a $196 monthly increase, while retirement benefits will go up by about $50 per month on average.

In 2025, the Social Security Administration predicts that the average monthly benefit for retired workers will rise to $1,976 per month, a $49 increase from the current $1,927 per month.

Who gets maximum Social Security benefits?

According to Paul Van de Water, a senior fellow at the Center on Budget and Policy Priorities, the highest Social Security benefits are typically awarded to individuals who have consistently earned the maximum amount throughout their working lives.

He stated that the group usually comprises a "minuscule number of individuals."

To earn the maximum retirement benefit from Social Security, workers must consistently have wages above the threshold of 35 years.

Few individuals commence their careers at age 21 with the highest salary, according to Van de Water.

Up to a certain maximum, workers pay Social Security taxes through payroll contributions.

In 2024, a 6.2% tax paid by both workers and employers (or 12.4% for self-employed workers) applies to up to $168,600 in earnings. In 2025, the taxable earnings limit will increase to $176,100.

The size of Social Security benefits is not affected by a wealthy person's other sources of income, such as investments that do not require payroll tax contributions, as long as their wages subject to federal payroll taxes are within the limit.

How can you increase your Social Security benefits?

According to Blair, there are individuals who receive Social Security checks exceeding $4,000 monthly, and they typically delay claiming until age 70.

According to Blair, the highest amount of Social Security benefits can be obtained by waiting until age 70.

Beneficiaries who claim retirement benefits at age 62 will permanently receive reduced benefits.

Upon reaching full retirement age, retirees receive 100% of the benefits they've earned.

Beneficiaries can receive an 8% benefit increase per year if they wait to retire after the full retirement age until age 70.

Beneficiaries may experience a 77% increase in benefits if they wait from age 62 to 70 to receive them.

1. Bill affecting pensioners' Social Security benefits may be voted on by the House. 2. Social Security survivor benefits may be missed out on by children. 3. 72% of Americans worry that Social Security will run out in their lifetimes.

Blair stated that waiting until the highest possible claiming age may not always be the best option due to individual circumstances.

It is important for prospective beneficiaries to consider the impact of their claiming decision not only on themselves, but also on their spouse and any dependents, as advised.

Before applying, consider your own circumstances, Blair advised.

To view their future benefit estimates and earnings history, it is recommended for prospective beneficiaries to create an online My Social Security account, said the official.

To ensure that their benefits are accurately calculated, individuals should verify their earnings information and correct any errors, Blair advised. If the information is incorrect, they should contact the Social Security Administration for assistance.