3 Changes to Social Security Procedures in 2013

The Social Security Administration has announced a list of changes to Social Security procedures in 2013.

For one, paper checks will not be printed anymore and their services will be offered online as a result among a host of new features and rules.

So, here are 3 changes to social security procedures in 2013 that are important to know:

#1: Payroll Taxes

With the temporary payroll tax cut allowed to expire as of the end of 2012, people who were taxed at 4.2% will now resume paying 6.2% from their incomes. Also, with the payroll tax cap increased by $3600 and now standing at a total of $113,700 per annum, people who earning more than this amount will not have to pay Social Security taxes based on that income.

#2: Social Security services are offered online

With Social Security services going online, a trip to one of their nearest offices isn’t necessary. Since 2012, retirees can access their accounts over the web while being able to view their total earnings and expected benefits. Most importantly, retirees can claim their Social Security payments online too, change their address or even add direct deposit information to their accounts as well.

#3: Reduced working hours for their offices

In the interests of saving money and avoid the payment of overtime to workers, Social Security offices have reduced the number of hours that they are open to the public. Right from November 19, 2012, the offices have been closing half and hour earlier while also closing their offices at noon every Wednesday since January 2, 2013.