Seniors Group Says New Social Security Report Should Be ‘Wake-Up Call’ for Congress

A Social Security card sits alongside checks from the U.S. Treasury in this photo illustration in Washington on Oct. 14, 2021. Kevin Dietsch/Getty Images

Prominent seniors group AARP is calling on Congress to act after it emerged that the trust fund that Social Security uses to pay retirement benefits to tens of millions of Americans could run out by 2032.

An annual report issued on Tuesday from the Old-Age and Survivors Insurance (OASI) Trust Fund, which Social Security uses, will only be able to cover 78 percent of total scheduled benefits starting in 2032.