Social Security Wage Limit 2024 Estimate. The maximum benefit for a worker who claims social security at full retirement age (fra) in 2024 will be $3,822 a month, up from $3,627 in 2023. Initial estimates are for a smaller cola in 2025 than in 2024.

The earnings limit for workers who are younger than full retirement age (see full retirement age chart) will increase to $22,320. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.