The average retired couple could see their Social Security benefits reduced by $17,400 in 2033 as funding for the program diminishes over the coming decade, according to a recent analysis.
The Social Security program is funded by the Old-Age and Survivors Insurance (OASI) trust fund. Trustees for the Social Security program project that OASI would deplete its reserves by 2033, the Committee for a Responsible Federal Budget (CRFB) pointed out in an Aug. 8 post. At the time, today’s 57-year-olds will hit the normal retirement age while the youngest retirees at present will turn 72.
