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Finance and Economy

Social Security raises overpayment withholdings to 100% in attempt to regain funds

By Annabella Rosciglione
Published
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The Social Security Administration will begin recouping 100% of overpayments to beneficiaries starting later this month, the agency said Friday.

The agency is reversing a March 2024 move to withhold only 10% of a recipient’s benefits in the event of an overpayment in order to reduce “financial hardship on people with overpayments,” according to a memo from the agency at the time. 

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Retirement Social Security Social Security Administration