Social Security won’t be able to pay full benefits by 2034, a year earlier than expected due to the pandemic

Social Security won’t be able to pay full benefits by 2034, a year earlier than expected due to the pandemic

Updated: 31 AUG 21 16:43 ET
By Katie Lobosco, CNN
(CNN) — Social Security will have to cut benefits by 2034 if Congress does nothing to address the program’s long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.
That’s one year earlier than reported last year. By that time, the combined trust funds for Social Security will be…

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