Social Security Tax Wage Limit 2024 Opm. For 2024, the social security wage cap will be $168,600, and social security and supplemental security income (ssi) benefits will increase by 3.2 percent. The social security administration recently announced that the wage base for computing social security tax will increase to $168,600 for 2024 (up from $160,200 for 2023).

Keep an eye on the oasdi limit—it’s your earnings ceiling for social security taxes. In 2024, the social security tax limit rises to $168,600.