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Retirees Could See $17,400 Reduction in Benefits by 2033: Analysis

There could be a significant dip in social security benefits within 10 years as funds deplete and inflation rises.
Retirees Could See $17,400 Reduction in Benefits by 2033: Analysis
A Social Security card sits alongside checks from the U.S. Treasury in Washington on Oct. 14, 2021. Kevin Dietsch/Getty Images
Naveen Athrappully
Naveen Athrappully
8/16/2023|Updated: 8/16/2023
0:00

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.
Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
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