As the population ages, the amount in benefits being paid out is exceeding how much the program takes in. This has been the case since 2021. Approximately 70 million beneficiaries in 2024 drew funds ...

Under current law, when that trust fund is empty, Social Security can pay benefits only from dedicated tax revenues, which would, by that point, cover only about 79% of promised benefits.

They now predict that Social Security’s fund will run out of money in 2033, or in 2034 if Congress changes the law to combine the separate funds for old-age benefits and for disability insurance.

Social Security's board of trustees estimated in its most recent annual report that the combined trust funds will run out of cash reserves by 2034. But that does not mean the program will "go ...

On its own, the trust fund that supplements the money the government takes in from payroll taxes to distribute Social Security’s Old-Age and Survivors Insurance (OASI), as the retirement ...

The trust funds that help pay Social Security benefits to millions of Americans are due to run out of money in less than a decade. In an annual report released on Wednesday, trustees of the Social ...

Social Security has thus far been self-sustaining—payroll taxes go into this big fund, which then pays out monthly checks. But the problem we have now is the money coming into that fund is not ...

However, Social Security paid out $1.327 trillion in 2024 — more than it received — meaning it had to withdraw $103 billion from the trust fund, leaving $2.538 trillion.

Social Security's trust funds are shrinking because the program is spending more money than it's taking in. This will lead to forced benefit cuts as early as 2035 if the government doesn't find a ...

Currently, that's 12.4% of your income, split evenly between employee and employer. Then, there's the interest earned on money in Social Security's trust funds.