Increase in Full Retirement Age: The full retirement age for Social Security benefits may continue to rise, especially for those born after 1960, reaching 67 for people in this group.
Social Security Trust Fund Concerns: There are ongoing discussions about the Social Security Trust Fund's solvency.
In 2025, there may be new proposals for funding or changes in benefit calculations to address potential shortfalls.
Gradual Increase in Retirement Age: Some proposals suggest gradually increasing the age at which you can claim full benefits, possibly to 70, depending on political decisions and economic factors.
Cost of Living Adjustments (COLA): Social Security recipients may see changes in the COLA, affecting how benefits are adjusted for inflation in 2025.
Taxation of Benefits: The amount of Social Security benefits subject to taxes may be adjusted, affecting high earners or those with significant other income.