Social Security Max 2024 Contribution Chart

Social Security Max 2024 Contribution Chart. To find out how much your benefit will be reduced if you begin receiving benefits from age 62 up to your full retirement age, use the chart below and select your year of birth. We raise this amount yearly to keep pace with increases in average wages.

In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600. The formula for determining the oasdi contribution and benefit base is set by law.