Social Security Limit 2024 Increase Synonym. The social security tax limit refers to the maximum amount of earnings that are subject to social security tax. This features a notable increase of 5.2% from 2023’s $160,200.

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. Multiply any amount over $1,174 up to $7,078 by 32%.