Bisignano Says Social Security Will Last 90 More Years

Social Security Commissioner Frank Bisignano said the program would remain in place for another 90 years, while the latest trustees’ projections show that its retirement and survivor fund may not be able to pay all scheduled benefits after reserves are depleted in 2032. Bisignano made the forecast during a CNBC interview on Monday, saying the administration was working to protect and preserve Social Security. His assurance addresses the program’s continued existence, but does not alter the funding outlook in the 2026 Social Security Trustees Report. The report projects that the Old-Age and Survivors Insurance Trust Fund, which pays retirement and survivor benefits, can cover full scheduled payments through the fourth quarter of 2032. After its reserves are depleted, continuing income would cover 78% of scheduled benefits, according to the projection. That would mean reduced payments under current financing, not that Social Security would stop operating. The projections concern the retirement and survivor fund, rather than every Social Security trust fund combined.