What Happens if the Social Security Trust Fund Runs Out?

Pexels

For many older Americans, Social Security is a lifeline. And it’s one that retirees have worked hard for, paying into the program with every paycheck trusting that it will be there when they’re ready for the next stage in life.

However, many seniors also have doubts about how long this program will last.

USA Today reports that nearly three-quarters of Americans believe that the program will run out of money before they’re ready to retire. That’s an overwhelming amount—and there might be some truth behind what they think.

The Social Security trust fund is set to run out of funds in 2034, but this won’t throw the program into insolvency. Instead, it will slash benefits by as much as 22 percent.

But for retirees, a cut would be devastating, and it goes against what they’ve worked so hard for and have been promised.

That’s why The Seniors Center is working to protect benefits. We’re not going to let Social Security benefits dwindle down to nothing without a fight. So join our mission today by adding your name to our petition and sharing our Twitter and Facebook posts with your friends and family—we need your voice to make our cause heard.