Social Security Withholding 2024 Rate Increase. Thus, an individual with wages equal to or larger than $168,600. The social security withholding rate is 6.2% for employees in 2024.
Social security cola increase for 2025 could be the lowest in four years; 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.