Could the Retirement Age be Increasing?

The Social Security trust fund is dwindling. If nothing is done to shore up solvency, benefits could be cut by more than 20 percent within the next 10 years. Certainly, no one wants that to happen!

According to an article by Newsweek, the government is reportedly evaluating all options, including raising the retirement age. That’s according to Social Security Administration (SSA) commissioner Frank Bisignano, who told Fox News that “I think everything’s being considered.” 

The Seniors Trust believes there are better solutions to Social Security insolvency. We are committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.