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Increasing the retirement age to 70 would 'dramatically cut benefits' for workers going forward, campaigners have warned.
It could impact current and future beneficiaries alike.
Benefit cuts may have to happen sooner than expected.
The 2023 Social Security Trustees Report was released yesterday, and just like I did last year (and the year before, and the year before that, etc), let’s look at the fiscal status of the retirement program.
Entitlement programs such as Social Security and Medicare could be forced to cut benefits as soon as 2031, according to a new report from the funds' trustees.