Will Social Security Run Out? Recent Report Details the Future of Benefits
Is Social Security running out of money? It’s a question that keeps millions of Americans up at night — especially retirees, disabled workers, and younger generations unsure if their benefits will be there when they need them.
As of June 2025, new reporting from Pew Research and updated estimates from the Social Security Administration (SSA) paint a clearer, if sobering, picture.
The short answer? Social Security isn’t “going broke” — but benefit cuts are very likely unless Congress acts.
What 2025 Reports Say About Social Security’s Future
✅ SSA Trustees’ 2025 Outlook
According to the 2025 Social Security Trustees Report, the combined trust funds (retirement and disability) will be depleted by 2033 — just eight years from now. At that point, the system would only be able to pay about 79% of scheduled benefits using incoming payroll taxes.
“The longer lawmakers wait, the more severe and abrupt the solutions will need to be,” said the SSA in its 2025 forecast.
📊 Pew Research: Growing Concern Among Americans
A May 2025 Pew Research survey found that:
- 81% of U.S. adults believe Social Security is in trouble.
- Only 14% are “very confident” they’ll receive full benefits.
- Among Gen Z and Millennials, nearly 60% believe they’ll get nothing at all.
These numbers represent the highest recorded skepticism since Pew began tracking public opinion on Social Security in the early 2000s.
Why Is Social Security Under Pressure?
Several structural issues are contributing to the looming shortfall:
- Aging Population: Baby Boomers are retiring at a rapid pace, increasing the number of beneficiaries.
- Low Birth Rates: Fewer workers are entering the labor force to pay into the system.
- Longer Life Expectancy: Americans are living longer, drawing benefits for more years.
- Wage Stagnation: Slower income growth means fewer payroll tax contributions.
Combined, these trends are straining a system that was designed for a very different demographic landscape.
Is Social Security Really “Running Out”?
No — Social Security cannot “run out of money” in the way a private retirement account can. Here’s what will actually happen if no changes are made:
| Year | Status of Trust Fund | What Happens |
|---|---|---|
| 2025 | Fully funded | Full payments continue |
| 2033 | Trust fund depletion | Payments drop to ~79% of scheduled benefits |
| 2040+ | Uncertain | Gradual declines unless reforms are enacted |
So while the program won’t disappear, automatic benefit reductions would hit all recipients, including retirees, SSDI beneficiaries, and survivors.
What Can Be Done to Save It?
Lawmakers have several options, but none are politically simple:
Reform Proposals Include:
- Raising the full retirement age
- Lifting the payroll tax cap (currently capped at $168,600)
- Increasing payroll tax rates
- Reducing benefits for high-income retirees
- Expanding immigration to grow the labor force
Bipartisan compromise will be necessary — and 2025 presidential candidates are already using Social Security as a key campaign issue.
What It Means for Current Retirees
If you’re already receiving benefits, you’re unlikely to see a full loss of your monthly payments. But if no legislative solution is passed by 2033:
- You may receive reduced payments starting that year.
- COLAs (Cost-of-Living Adjustments) could be limited.
- SSI and SSDI recipients could be impacted more severely.
The Bottom Line
Social Security isn’t going away — but it is heading toward automatic benefit cuts unless Congress takes action. The system still has time, but the window for painless reform is narrowing.
📌 Stay Informed: