Social Security retirement trust fund may be depleted in 2032, new trustees report finds [View all]

Source: CNBC

Personal Finance
Social Security retirement trust fund may be depleted in 2032, new trustees report finds

Published Tue, Jun 9 2026 11:34 AM EDT
Updated 29 Min Ago
Lorie Konish

KEY POINTS
* The Social Security Administration released a new report on Tuesday with new projections as to when the trust funds it relies on to help pay benefits may be depleted.
* The OASI trust fund — formally known as Old Age and Survivors Insurance, or OASI — will run out in 2032, at which point 78% of benefits will be payable, according to the latest projections.
* While Social Security has never missed a payment, the looming shortfall may prompt benefit cuts unless Congress takes action.


A sign for the U.S. Social Security Administration is seen outside its headquarters in Woodlawn, Md., on Thursday, March 20, 2025.
Tom Williams | Cq-roll Call, Inc. | Getty Images
A Social Security trust fund used to pay retirement benefits may run out in late 2032, three months earlier than what had been projected last June, according to the new Social Security Administration annual trustees report released on Tuesday.

Social Security uses incoming revenue from payroll taxes to pay benefits. When benefit payments exceed payroll tax income, the program relies on the trust funds to help make up the shortfall.

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Read more: https://www.cnbc.com/amp/2026/06/09/social-security-trustees-report-depletion-dates.html