United States
English original
Social Security commissioner says program will last another nine decades
Social Security Commissioner Frank Bisignano said the program would remain for another nine decades, despite projections that its trust fund could be depleted within six years.
Social Security Commissioner Frank Bisignano pushed back against concerns about the program's future, saying it would remain in place for another nine decades. His assurance came despite projections warning that its trust fund could run out of reserves within six years.
The Social Security Administration's 2026 Trustees Report projects that the Old-Age and Survivors Insurance Trust Fund can pay full scheduled benefits only until the fourth quarter of 2032. That fund pays retirement and survivor benefits.
After the reserves are depleted, continuing income is projected to be sufficient to pay 78 percent of scheduled benefits.
Depletion of the reserves would not mean that Social Security disappears or stops paying benefits. However, the resulting automatic benefit reductions could hurt people who depend on those payments to cover necessities.