Big Changes to Retirement Savings Are Coming in 2025 ...Middle East

Significant changes to retirement savings rules are set to take effect in 2025, primarily affecting higher-income workers. These updates, part of the Secure Act 2.0 passed in 2022, aim to enhance retirement savings opportunities and make it easier for "max savers." With these changes taking effect next year, here's what hopeful retirees need to understand now.Increased catch-up contributions for near-retireesWorkers approaching retirement will soon have the opportunity to accelerate their savings significantly. Starting in 2025, employees aged 60 to 63 will be able to make larger catch-up contributions to their 401(k) plans, with new limits set at either $10,000 annually or 150% of the stand

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