Social Security Faces 22% Benefit Cut in 2032 as OASI Fund Nears Depletion
Updated
Updated · Yahoo Finance · Oct 28
Social Security Faces 22% Benefit Cut in 2032 as OASI Fund Nears Depletion
3 articles · Updated · Yahoo Finance · Oct 28
Summary
Late 2032 is when Social Security’s Old-Age and Survivors Insurance trust fund is projected to run out, leaving the program able to pay only 78% of scheduled benefits.
A 22% cut would trim the average monthly retirement check by about $459, reducing it to $1,627 from roughly $2,086.
That would hit retirees who rely mainly or entirely on Social Security especially hard, since the current average benefit already totals only about $25,000 a year.
The report underscores that payroll taxes would still fund most benefits after depletion, but absent congressional action, automatic cuts would become the default outcome.