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Social security will not be able to pay full benefits faster than previously estimated
“The pandemic and its economic impact are affecting social security trust funds, and the future direction of the pandemic remains uncertain,” said Kiroro Kijakaji, acting commissioner of the Social Security Administration. “Still, social security will continue to play an important role in the lives of 65 million beneficiaries and 176 million workers and their families during 2021.” The government will continue to play an important role in the life of the old-age insurance trust fund. Will not be able to receive full benefits from 2033, one year earlier than last year’s forecast, and the disability insurance trust fund will be exhausted in 2057 (8 years ago).