2024 Social Security Wage Limit Increase. The maximum social security benefit for a worker retiring at full retirement age will increase to $3,822 per month in 2024 from $3,627 in 2023. 2024 social security tax limit increase.
The ssa also said today that the maximum amount of earnings subject to social security tax (also known as the wage base) will rise to $168,600, up 5.2% from the $160,200. Beginning in january 2024, more than 70 million recipients will see their social security benefits increase by 3.2% for a cost of living adjustment (cola) in their monthly payments.