Social Security’s Built-In Benefit Cut Is Coming — Here’s What It Means for You

The system’s main retirement trust fund is projected to run short of money around 2032, triggering automatic reductions unless lawmakers step in. Once the trust fund is depleted, Social Security will still pay benefits, but only from incoming payroll taxes. How the Built-In Benefit Cut Actually WorksThe phrase “built-in benefit cut” sounds like a political talking point, but it’s really shorthand for what existing law requires. Today's Top OffersFor couples who both receive Social Security, the impact could be even more dramatic because both checks would shrink. Financial planners often recommend assuming your Social Security benefits could be 20% lower and budgeting to cover the shortfall.