Keep Social Security Strong

AARP believes the current Social Security system needs to be strengthened. The longer we wait to come to a national consensus on what the adjustments will be, the more painful the changes we will have to make.

As the boomer generation begins retiring, more people are getting benefits relative to the number of people paying into the system. In addition, people are living longer. So we need to make changes. Although Social Security will remain strong for decades to come, we need to strengthen it so that it will always pay adequate benefits. While it was never intended to provide all of a person's retirement income, Social Security is important to everyone's retirement safety net.

Our Future: No Immediate Danger

Social Security is in no immediate danger of "going broke." With the retirement of the boomers on the horizon, the Social Security Administration began building a cushion to see this generation through its retirement years. Thanks to that planning, the Social Security Trust Funds hold more than $2.4 trillion in U.S. Treasury bonds, which earn interest every year.

Without any changes, Social Security will be able to pay 100 percent of benefits until 2037 and more than 70 percent of promised benefits after that. Only paying 70 percent of promised benefits, however, is not acceptable.

Our Challenge: Addressing the Future Shortfall

The country can take some simple steps now to begin making a down payment on the future Social Security shortfall. AARP supports the following changes: … Back to Article