Social Security's retirement and survivor benefits are projected to face a funding shortfall as early as 2033, at which point the program would only be able to pay about 77% of scheduled benefits unless Congress intervenes.
The combined reserves of the Old-Age and Survivors Insurance and Federal Disability Insurance trust funds are now expected to be depleted by 2034 — one year sooner than previously estimated, according to the latest Social Security Trustees Report. While the DI Trust Fund remains stable over the 75-year projection period, the earlier depletion of combined funds signals growing urgency for policymakers to act.
