$800 Million in Social Security Cost Savings Identified for 2025, SSA Says

The agency recently announced plans to lay off employees as part of the administration’s plan to cut costs at government departments.

The Social Security Administration in Waycross, Ga., on Aug. 28, 2024. Madalina Vasiliu/The Epoch Times

The Social Security Administration (SSA) estimates that it is on course to save hundreds of millions of dollars in the 2025 fiscal year, with the bulk of the savings coming from payroll reductions.

“The agency has thus far identified over $800 million in cost savings or cost avoidance for fiscal year (FY) 2025 in areas of payroll, information technology, contracts and grants, and space savings (i.e., real property), and other savings through new, common-sense approaches to printing, travel, and purchase card policies,” SSA said in a March 3 statement.