Social Security Contribution Limit 2024 Over 65

Social Security Contribution Limit 2024 Over 65. The social security administration (ssa) announced that the maximum earnings subject to social security (oasdi) tax will increase from $160,200 to $168,600. 71.6 million people received benefits from programs administered by the social security administration (ssa) in 2023.

It’s $4,873 per month if retiring at 70 and $2,710 for retirement at 62. Thus, an individual with wages equal to or larger than $168,600 would contribute $10,453.20 to the oasdi program in 2024, and his or her employer.