There's good news for those who collect Social Security benefits and those who want to contribute to pension plans in 2013.
The Social Security Administration recently announced benefit increases for 2013 of 1.7 percent for millions of Americans. For eight million recipients of Supplemental Security Income, the cost-of-living increase will begin on December 31, 2012, while 56 million Social Security beneficiaries will see payment increases beginning in January 2013.
Other changes include a higher wage base on which those who remain in the workforce will pay Social Security tax. In 2012, that maximum is $110,100 and it will rise in 2013 to $113,700.
