June 11, 2026 - WASHINGTON — The new Social Security Trustees Report released on Tuesday shows that the Social 
Security trust funds are expected to be depleted in 2034, the same year as last year’s estimate. The new projection means Congress will still need to close the remaining shortfall of just under 20%, or Americans will face Social Security cuts that they cannot afford.
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Related: Social Security Board of Trustees Say Projection for Combined Trust Funds Remains Consistent with Prior Year with Depletion in 2034
AARP CEO Dr. Myechia Minter-Jordan issued the following statement:
“This should be a wake-up call: Congress needs to act. Americans have worked hard and paid into Social Security their entire lives, and they deserve to count on it when they retire. No family should see any cuts to what they’ve earned in Social Security. Today, more than 71 million people rely on Social Security, and as America ages, ensuring it stays strong will become even more critical.
The 125 million Americans age 50 and older have made clear: cutting Social Security or Medicare is not an option. This is money Americans have earned over a lifetime of hard work. They planned for retirement, followed the rules, and now Congress must keep its promise by strengthening, not cutting, Social Security.
At a time when the future of Social Security is being tested by proposals that would weaken the program, the Trustees Report highlights the need for Congress to protect what people have earned. We will not let special interests push proposals to cut Social Security for middle-class families.
We urge Congress to act in a bipartisan way to ensure Social Security can continue to be strong for our children and grandchildren.”
Americans work hard and pay into Social Security for their entire lives. Social Security provides the majority of income for 43% of seniors. That’s more than 25 million families. Social Security is one of the most successful and popular initiatives in history and has helped generations of Americans stay out of poverty and thrive in retirement.
Social Security isn’t going bankrupt, but Congress needs to act to protect and strengthen it now and in the future.
The Medicare Trustees Report shows that funds are expected to be depleted in 2033, the same year as last year’s estimate.
About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the 125 million Americans 50-plus and their families: health and financial security, and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest-circulation publications: AARP The Magazine and the AARP Bulletin. To learn more, visit aarp.org, aarp.org/espanol or follow @AARP, @AARPLatino and @AARPadvocates on social media.
Source: AARP