{"id":801905,"date":"2026-10-14T03:18:15","date_gmt":"2026-10-14T03:18:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/801905\/"},"modified":"2026-10-14T03:18:15","modified_gmt":"2026-10-14T03:18:15","slug":"head-of-social-security-says-the-program-will-be-around-for-another-90-years","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/801905\/","title":{"rendered":"Head of Social Security says the program will be around for another 90 years"},"content":{"rendered":"

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The commissioner of the Social Security Administration<\/a> says that the program will last for another 90 years.<\/p>\n

\u200bConcerns over the longevity of some Social Security<\/a> programs were raised earlier this year amid an anticipated funding shortfall, with President Trump having suggested that Social Security<\/a> trust funds should be invested into the stock market.<\/p>\n

\u200bHowever, Frank Bisignano, the SSA commissioner, says that the program will continue.<\/p>\n

\u200b\u201cThis is a long journey. It\u2019s 90 years old. It\u2019ll be around for another 90 years,\u201d he said on CNBC\u2019s Squawk Box<\/a>. \u201cThe president has promised \u2018protect and preserve\u2019 and that\u2019s what we\u2019re doing.\u201d<\/p>\n

Asked whether people living longer lives due to advances in healthcare should result in a rise in the retirement age, Bisignano responded: \u201cThere will always be questions, but so far we\u2019ve done a great job for America on it.\u201d<\/p>\n

\"FrankFrank Bisignano, the SSA commissioner, says that Social Security will last for another 90 years (CNBC)<\/p>\n

\u200bBisignano made the remarks ahead of the unveiling of the SSA\u2019s cost-of-living adjustment on Wednesday. The annual COLA is designed to protect the purchasing power of Social Security<\/a> checks against inflation.<\/p>\n

\u200bThe 2027 COLA is expected to be 3.5 percent, according to the Senior Citizens League<\/a>. That would increase an average monthly Social Security check from $1,941.76 to $2,009.72, according to data<\/a> released in August by the SSA.<\/p>\n

\u200bThe CPI<\/a> measured annual inflation as 3.4 percent in August, with the Bureau of Labor Statistics expected to say that year-on-year inflation was at 3.6 percent in September, according to the Federal Reserve Bank of Cleveland<\/a>.<\/p>\n

\u200bThe Social Security Act was signed into law all the way back in August 1935, under then-President Franklin D. Roosevelt.<\/p>\n

\u200b\u201cFor 90 years, Social Security has stood as a promise kept, ensuring that older Americans, people with disabilities, and families facing loss have the support they need,\u201d Bisignano said in a statement<\/a> last year. \u201cAs we honor this legacy, we are also building a future where service is faster, smarter, and more accessible than ever before.\u201d<\/p>\n

\u200bJust last week, though, Trump<\/a> said that he believed in a reimagining of the Social Security funding structure, telling reporters that the Social Security trust funds should be invested into the stock market.<\/p>\n

\"PresidentPresident Trump says that he thinks that Social Security trust funds should be invested into the stock market (Reuters)<\/p>\n

\u200b\u201cI wanted to ride with Social Security being fully invested in the stock market in the first month of my first year,\u201d he told reporters. \u201cHad we done that, Social Security right now would be the richest entity anywhere in the world.\u201d<\/p>\n

\u200bWider concerns over funding were raised by the SSA in a message to the public<\/a> early this year, with the administration saying that the Old-Age and Survivors Insurance Trust Fund would only be able to cover all scheduled benefits until the fourth quarter of 2032. After that, the fund\u2019s reserves will only be able to cover 78 percent of the scheduled benefits.<\/p>\n

\u200bIf combined with the Disability Insurance Trust Fund – which can be funded until at least 2100 – the resultant OASDI fund would be able to pay 100 percent of benefits until the third quarter of 2034, before dropping to 83 percent of scheduled benefits.<\/p>\n

\u200bThe SSA says that lowered fertility rates, lower immigration and policies contained in the One Big Beautiful Bill Act<\/a> mean that the OASI and DI Trust Funds will have lower revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Membership today.…\n","protected":false},"author":2,"featured_media":801906,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[19413,84,133721,4176,4174,4175,56,54,55],"class_list":["post-801905","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-anniversaries","tag-business","tag-domestic-politics","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/801905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=801905"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/801905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/801906"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=801905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=801905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=801905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}