3 Social Security Changes That Workers Need to Know About for 2027

Workers should be aware of three upcoming changes to Social Security for the year 2027. First, the number of credits needed to qualify for retirement benefits is increasing. Currently, 40 credits are required, but this will rise to 44 in 2027. Each credit can be earned by earning a certain amount of money from employment and paying Social Security taxes on it. In 2026, $1,890 in earnings equaled one credit, but this will rise to $1,970 in 2027.

Second, the maximum taxable earnings, which determines how much income is subject to Social Security taxes, is increasing. In 2026, this limit was $184,500, but it will rise to $192,300 in 2027. This change will affect high earners the most, as they may see a slight increase in their Social Security taxes.

Lastly, the Social Security earnings test, which reduces benefits for seniors who earn too much while receiving benefits before reaching their full retirement age, is being adjusted. In 2026, seniors earning over $24,480 per year (if under FRA) or $65,160 (if at FRA) could lose money to the earnings test. These limits will rise to $25,560 and $67,920, respectively, in 2027, allowing working seniors to keep more of their income.

However, some reduction in benefits is still possible, as these gains will be returned to seniors as a one-time boost at their full retirement age.