General Information

OASDI Program

Earnings in Covered Employment, 1937–2025

People contribute to Social Security through payroll taxes or self-employment taxes, as required by the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA). The maximum taxable amount is updated annually on the basis of increases in the average wage. Of the 185 million workers with earnings in Social Security–covered employment in 2025, about 6% had earnings that equaled or exceeded the maximum amount subject to taxes, compared with 3% when the program began and a peak of 36% in 1965. About 83% of earnings in covered employment were taxable in 2025, compared with 92% in 1937.

Show as table

Table equivalent for chart. Taxable earnings as a percentage of earnings in covered employment and percentage of workers with maximum taxable earnings, selected years

Year	Taxable earnings	Workers with maximum taxable earnings
1937	92.0	3.1
1945	87.9	13.7
1955	80.3	25.6
1965	71.3	36.1
1975	84.4	15.0
1985	88.9	6.5
1995	85.8	5.8
2005	84.1	6.1
2015	82.9	6.2
2025	82.5	6.2

Insured Status, 1970–2025

The percentage of persons aged 20 or older who are insured for benefits has changed very little in recent years. To be fully insured, a worker must have at least one work credit (quarter of coverage) for each year elapsed after age 21 (but no earlier than 1950) and before the year in which he or she attains age 62, becomes disabled, or dies. Once a worker has accumulated 40 quarters of coverage, they remain permanently fully insured. To be insured for disability, the worker must be fully insured and have at least 20 quarters of coverage during the last 40 calendar quarters. (Requirements for disability-insured status are somewhat different for persons younger than age 31.) Disability benefits are available up to FRA.

Insured Status by Sex, 1970 and 2025

Although men historically were more likely than women to be insured, the gender gap is shrinking. The proportion of men who are insured declined slightly from 1970 to 2025, with 90% fully insured and 79% insured for disability in 2025. By contrast, the proportion of women who are insured increased dramatically—from 63% to 87% fully insured and from 41% to 75% insured for disability.

Show as table

Table equivalent for chart. Percentage of population in the Social Security area fully insured and insured for disability benefits, by sex

Sex	1970	2025
Fully insured
Men	93	90
Women	63	87
Insured for disability a
Men	84	79
Women	41	75

New Benefit Awards, 2025

Benefits were awarded to 6.4 million persons; of those, 61% were retired workers and 10% were disabled workers. The remaining 29% were survivors or the spouses and children of retired or disabled workers. These awards represent not only new entrants to the benefit rolls but also persons already on the rolls who become entitled to a different benefit, particularly conversions of disabled-worker benefits to retired-worker benefits at FRA.

New Awards to Workers, 1985–2025

Awards to retired workers increased considerably over the past four decades, at a higher rate than that by which awards to disabled workers increased. The annualized rate of increase over the period from 1985 to 2025 is 2.1% for retired workers and 1.3% for disabled workers. The annual number of awards to retired workers rose from 1.7 million in 1985 to 3.9 million in 2025, while for disabled workers it increased from 377,000 in 1985 to 633,000 in 2025.

Show as table

Table equivalent for chart. Number of new awards to retired and disabled workers (in millions)

Year	Retired workers	Disabled workers
1985	1.690	0.377
1986	1.734	0.417
1987	1.682	0.416
1988	1.654	0.409
1989	1.657	0.426
1990	1.665	0.468
1991	1.695	0.536
1992	1.708	0.637
1993	1.661	0.635
1994	1.625	0.632
1995	1.609	0.646
1996	1.581	0.624
1997	1.719	0.587
1998	1.632	0.608
1999	1.690	0.620
2000	1.961	0.622
2001	1.779	0.691
2002	1.813	0.750
2003	1.791	0.777
2004	1.883	0.796
2005	2.000	0.830
2006	1.999	0.799
2007	2.036	0.805
2008	2.279	0.877
2009	2.740	0.971
2010	2.634	1.027
2011	2.578	0.999
2012	2.735	0.960
2013	2.794	0.869
2014	2.772	0.779
2015	2.839	0.741
2016	2.911	0.706
2017	2.975	0.716
2018	3.082	0.687
2019	3.175	0.679
2020	3.368	0.620
2021	3.186	0.540
2022	3.413	0.509
2023	3.614	0.524
2024	3.713	0.595
2025	3.922	0.633

Beneficiaries in Current-Payment Status, December 2025

Seventy million beneficiaries were in current-payment status; that is, they were being paid a benefit. The majority of those beneficiaries (76%) were retired workers, while 10% were disabled workers. The remaining beneficiaries were survivors or the spouses and children of retired or disabled workers.

Average Monthly Benefits, 2025

Benefits payable to workers who retire at FRA and to disabled workers are equal to 100% of the PIA (subject to any applicable deductions). At FRA, widow(er)s' benefits are also payable at 100% of the insured worker's PIA. Nondisabled widow(er)s can receive reduced benefits at age 60. Disabled widow(er)s can receive reduced benefits at age 50. Spouses, children, and parents receive a smaller proportion of the worker's PIA than do widow(er)s.

Beneficiaries by Age, December 2025

More than four-fifths of all OASDI beneficiaries in current-payment status were aged 62 or older, including 29% aged 75–84 and 9% aged 85 or older. About 9% were persons aged 18–61 receiving benefits as disabled workers, survivors, or dependents. Another 3% were children under age 18.

Age of Disabled and Retired Workers, 1960–2025

The average age of disabled-worker beneficiaries in current-payment status declined between 1960, when DI benefits first became available to persons younger than age 50, and 2025. In 1960, the average age of a disabled worker was 57.2 years. The rapid drop in average age in the following years reflects a growing number of awards to workers under 50. By 1995, the average age fell to a low of 49.8, but by 2025, it rose to 56.2. By contrast, the average age of retired workers has changed little over time, rising from 72.4 in 1960 to 74.4 in 2025.

Show as table

Table equivalent for chart. Average age of disabled-worker and retired-worker beneficiaries, selected years

Year	Retired-worker beneficiaries	Disabled-worker beneficiaries
1960	72.4	57.2
1965	72.5	54.7
1970	72.3	54.2
1975	72.3	53.8
1980	72.4	53.2
1985	72.8	52.1
1990	73.1	50.5
1995	73.6	49.8
2000	73.9	50.8
2005	73.9	51.8
2010	73.7	52.8
2015	73.7	53.9
2020	74.0	55.0
2025	74.4	56.2

Beneficiary Types by Sex, December 2025

Of all adults receiving monthly Social Security benefits, 45% were men and 55% were women. Among the men, 87% received retired-worker benefits, while 75% of the women received retired-worker benefits. Additionally, 10% of the women received survivor benefits.

Average Monthly Benefits by Sex, December 2025

Among retired and disabled workers who collected benefits based on their own work records, men received a higher average monthly benefit than did women. For those with benefits based on another person's work record (spouses and survivors), women had higher average benefits.

Women Beneficiaries, 1940–2025

The proportion of women among retired-worker beneficiaries quadrupled between 1940 and 2025. The percentage climbed from 12% in 1940 to 51% in 2025. The proportion of women among disabled-worker beneficiaries more than doubled between 1957, when DI benefits first became payable, and 2025. The percentage rose steadily from 19% in 1957 to 35% in 1990 and 50% in 2025.

Show as table

Table equivalent for chart. Women as a percentage of retired-worker and disabled-worker beneficiaries

Year	Retired-worker beneficiaries	Disabled-worker beneficiaries
1940	11.6	. . .
1941	12.5	. . .
1942	13.8	. . .
1943	14.7	. . .
1944	14.5	. . .
1945	13.7	. . .
1946	13.1	. . .
1947	13.6	. . .
1948	14.1	. . .
1949	14.4	. . .
1950	17.1	. . .
1951	20.1	. . .
1952	22.4	. . .
1953	24.3	. . .
1954	25.7	. . .
1955	27.3	. . .
1956	30.1	. . .
1957	32.3	19.1
1958	33.3	20.1
1959	34.4	21.0
1960	35.3	21.8
1961	35.4	22.0
1962	35.9	23.1
1963	36.7	23.9
1964	37.6	24.6
1965	38.5	25.7
1966	39.7	26.3
1967	40.4	26.9
1968	41.2	27.5
1969	41.8	28.0
1970	42.4	28.4
1971	42.9	28.7
1972	43.5	29.1
1973	44.0	29.7
1974	44.7	30.7
1975	44.8	31.3
1976	45.1	31.7
1977	45.5	32.0
1978	45.9	32.2
1979	46.3	32.4
1980	46.5	32.6
1981	--	32.6
1982	46.9	33.0
1983	47.0	32.6
1984	47.2	32.7
1985	47.3	32.8
1986	47.4	33.0
1987	47.5	33.3
1988	47.6	33.7
1989	47.7	34.2
1990	47.7	34.7
1991	47.7	35.3
1992	47.7	36.0
1993	47.7	36.7
1994	47.8	37.6
1995	47.8	38.6
1996	47.9	39.7
1997	48.2	40.9
1998	48.4	41.7
1999	48.4	42.6
2000	48.2	43.4
2001	48.2	44.0
2002	48.3	44.6
2003	48.4	45.1
2004	48.5	45.6
2005	48.6	46.0
2006	48.8	46.5
2007	48.9	46.8
2008	49.0	47.2
2009	49.1	47.3
2010	49.2	47.5
2011	49.3	47.6
2012	49.5	47.8
2013	49.6	48.1
2014	49.8	48.3
2015	49.9	48.6
2016	50.0	48.8
2017	50.1	49.0
2018	50.2	49.3
2019	50.4	49.5
2020	50.6	49.7
2021	50.8	49.8
2022	51.0	49.9
2023	51.2	50.0
2024	51.3	50.0
2025	51.5	49.9
NOTE: . . . = not applicable; -- = not available.

Women with Dual Entitlement, 1960–2025

The proportion of women aged 62 or older who are receiving benefits as dependents (that is, on the basis of their spouses' earnings records only) declined from 57% in 1960 to 16% in 2025. At the same time, the proportion of women with dual entitlement (that is, paid on the basis of both their own earnings records and those of their spouses) increased from 5% in 1960 to 23% in 2025.

Child Beneficiaries, December 2025

About 2.5 million children under age 18 and students aged 18–19 received OASDI benefits. Children of deceased workers had the highest average payments, in part because they are eligible to receive monthly benefits based on 75% of the worker's PIA, compared with 50% for children of retired or disabled workers. Overall, the average monthly benefit amount for children was $901.

Show as table

Table equivalent for chart. Number of and average monthly benefit for child beneficiaries, by type

Type	Number (million)	Average monthly benefit (dollars)
Children of retired workers	0.338	901
Children of disabled workers	0.839	511
Children of deceased workers	1.322	1,148

SSI Program

Recipients in Current-Payment Status, December 1974–2025

The Supplemental Security Income (SSI) program provides income support to needy persons aged 65 or older, blind or disabled adults, and blind or disabled children. Eligibility requirements and federal payment standards are nationally uniform. Payments under SSI began in January 1974, with 4 million people receiving federally administered payments by the end of that year. The total number of recipients remained fairly stable until the mid-1980s, when it began to rise, reaching a peak of nearly 8.4 million in 2013. Since then, participation has declined slightly. As of December 2025, the number of recipients was about 7.4 million: nearly 4 million aged 18–64, about 2.5 million aged 65 or older, and about 1 million under 18.

Show as table

Table equivalent for chart. Number of recipients of federally administered SSI payments, by age group (in millions)

Year	Total	Under 18	18–64	65 or older
1974	4.00	0.07	1.50	2.42
1975	4.31	0.11	1.70	2.51
1976	4.24	0.13	1.71	2.40
1977	4.24	0.15	1.74	2.35
1978	4.22	0.17	1.75	2.30
1979	4.15	0.18	1.73	2.25
1980	4.14	0.19	1.73	2.22
1981	4.02	0.19	1.70	2.12
1982	3.86	0.19	1.66	2.01
1983	3.90	0.20	1.70	2.00
1984	4.03	0.21	1.78	2.04
1985	4.14	0.23	1.88	2.03
1986	4.27	0.24	2.01	2.02
1987	4.39	0.25	2.12	2.02
1988	4.46	0.26	2.20	2.01
1989	4.59	0.26	2.30	2.03
1990	4.82	0.31	2.45	2.06
1991	5.12	0.40	2.64	2.08
1992	5.57	0.56	2.91	2.10
1993	5.98	0.72	3.15	2.11
1994	6.30	0.84	3.34	2.12
1995	6.51	0.92	3.48	2.11
1996	6.61	0.96	3.57	2.09
1997	6.49	0.88	3.56	2.05
1998	6.57	0.89	3.65	2.03
1999	6.56	0.85	3.69	2.02
2000	6.60	0.85	3.74	2.01
2001	6.69	0.88	3.81	2.00
2002	6.79	0.91	3.88	2.00
2003	6.90	0.96	3.95	1.99
2004	6.99	0.99	4.02	1.98
2005	7.11	1.04	4.08	1.99
2006	7.24	1.08	4.15	2.00
2007	7.36	1.12	4.22	2.02
2008	7.52	1.15	4.33	2.03
2009	7.68	1.20	4.45	2.03
2010	7.91	1.24	4.63	2.04
2011	8.11	1.28	4.78	2.06
2012	8.26	1.31	4.87	2.08
2013	8.36	1.32	4.93	2.11
2014	8.34	1.30	4.91	2.12
2015	8.31	1.27	4.89	2.15
2016	8.25	1.21	4.85	2.19
2017	8.23	1.18	4.81	2.24
2018	8.13	1.15	4.71	2.27
2019	8.08	1.13	4.65	2.30
2020	7.96	1.11	4.56	2.30
2021	7.70	1.04	4.36	2.29
2022	7.54	1.00	4.20	2.35
2023	7.43	0.98	4.04	2.40
2024	7.42	1.00	3.95	2.47
2025	7.39	1.02	3.86	2.51

Average Payments by Age, December 2025

The average monthly federally administered SSI payment was $715. Payments varied by age group, ranging from an average of $833 for recipients aged under 18 to $594 for those aged 65 or older. In 2026, the maximum federal benefit rate is $994 for an individual and $1,491 for a couple, plus any applicable state supplementation.

Types of Payments, December 2025

A total of 7.4 million persons received federally administered SSI payments. The majority received federal SSI only. States have the option of supplementing the federal benefit rate and are required to do so if that rate is less than the income the recipient would have had under the former state program.

Basis for Eligibility and Age of Recipients, December 2025

Of all SSI recipients, 16% received benefits on the basis of age and the rest qualified on the basis of disability. Overall, 34% of the recipients were aged 65 or older. In the SSI program, a disabled recipient is still classified as “disabled” after reaching age 65. In the OASDI program, DI beneficiaries are converted to the retirement program when they attain FRA.

Recipients by Age, December 1974–2025

The proportion of SSI recipients aged 65 or older declined from 61% in January 1974 to 34% in December 2025. The overall long-term growth of the SSI program occurred because of an increase in the number of disabled recipients, most of whom are under age 65.

Show as table

Table equivalent for chart. Percentage distributions of SSI recipients, by age group

Year	Under 18	18–64	65 or older
1974	1.8	37.6	60.6
1975	2.5	39.4	58.1
1976	3.0	40.5	56.6
1977	3.5	41.0	55.5
1978	3.9	41.4	54.6
1979	4.3	41.6	54.1
1980	4.6	41.8	53.6
1981	4.8	42.4	52.8
1982	5.0	42.9	52.1
1983	5.1	43.6	51.3
1984	5.3	44.2	50.6
1985	5.5	45.4	49.1
1986	5.6	47.1	47.3
1987	5.7	48.3	46.0
1988	5.7	49.3	44.9
1989	5.8	50.1	44.1
1990	6.4	50.9	42.7
1991	7.8	51.6	40.6
1992	10.0	52.3	37.7
1993	12.1	52.6	35.3
1994	13.4	53.0	33.7
1995	14.1	53.5	32.5
1996	14.4	54.0	31.6
1997	13.5	54.8	31.6
1998	13.5	55.5	31.0
1999	12.9	56.3	30.8
2000	12.8	56.7	30.5
2001	13.2	57.0	29.8
2002	13.5	57.1	29.4
2003	13.9	57.3	28.8
2004	14.2	57.5	28.3
2005	14.6	57.4	28.0
2006	14.9	57.4	27.7
2007	15.2	57.4	27.4
2008	15.3	57.6	27.0
2009	15.6	58.0	26.4
2010	15.7	58.5	25.8
2011	15.7	58.9	25.4
2012	15.9	58.9	25.2
2013	15.8	59.0	25.2
2014	15.6	58.9	25.5
2015	15.2	58.8	25.9
2016	14.7	58.7	26.6
2017	14.4	58.4	27.2
2018	14.1	58.0	27.9
2019	14.0	57.5	28.5
2020	13.9	57.2	28.8
2021	13.5	56.7	29.8
2022	13.2	55.6	31.1
2023	13.2	54.4	32.4
2024	13.5	53.2	33.3
2025	13.7	52.3	34.0

Recipients by Sex and Age, December 2025

Overall, 51% of the approximately 7.4 million SSI recipients were women, but that percentage varied greatly by age group. Women accounted for 63% of recipients aged 65 or older, 48% of recipients aged 18–64, and 32% of recipients under age 18.

Show as table

Table equivalent for chart. Percentage distributions of SSI recipients by sex across age groups

Age	Men	Women
All ages	49	51
Under 18	68	32
18–64	52	48
65 or older	37	63

Other Income Sources by Age, December 2025

More than 57% of SSI recipients aged 65 or older received OASDI benefits, as did 27.4% of those aged 18–64 and 5.5% of those under age 18. Other types of unearned income, such as income from assets, were reported most frequently among those under age 18 (21.2%) and those aged 65 or older (9.8%). Earned income was most prevalent (5.2%) among those aged 18–64.

Show as table

Table equivalent for chart. Percentage of SSI recipients also receiving other income, by source and age group

Age group	OASDI	Other unearned income	Earnings
All ages	34.5	10.5	3.2
Under 18	5.5	21.2	0.6
18–64	27.4	8.2	5.2
65 or older	57.1	9.8	1.1

Child Recipients, December 1974–2025

As of December 1974, the program's first year, 70,900 blind and disabled children were receiving SSI. That number has generally increased since then, peaking at more than 1.3 million in 2013, before declining to 1,016,027 in 2025. The relatively high average payment to children (compared with payments made to blind and disabled adults) is due in part to a limited amount of other countable income. The spike in average monthly benefits in 1992 is due to retroactive payments resulting from the Sullivan v. Zebley decision. As of December 2025, blind and disabled children were receiving SSI payments averaging $833.

Show as table

Table equivalent for chart. Number of and average monthly payment to children under age 18 receiving SSI

Year	Number (in millions)	Average monthly SSI payment a
1974	0.07090	109.15
1975	0.10703	141.09
1976	0.12541	154.24
1977	0.14736	170.03
1978	0.16590	171.72
1979	0.17731	193.26
1980	0.19039	219.08
1981	0.19489	240.84
1982	0.19157	263.22
1983	0.19832	280.96
1984	0.21159	292.86
1985	0.22738	301.26
1986	0.24120	321.34
1987	0.25090	327.27
1988	0.25514	343.24
1989	0.26489	357.64
1990	0.30859	403.72
1991	0.39716	446.05
1992	0.55647	610.98
1993	0.72268	460.54
1994	0.84147	448.07
1995	0.91705	447.57
1996	0.95517	442.01
1997	0.87983	433.83
1998	0.88707	441.75
1999	0.84706	450.13
2000	0.84678	463.05
2001	0.88184	476.09
2002	0.91482	487.73
2003	0.95938	490.63
2004	0.99313	505.98
2005	1.03650	522.80
2006	1.07898	542.00
2007	1.12102	555.00
2008	1.15384	561.00
2009	1.19979	593.00
2010	1.23927	597.00
2011	1.27712	601.00
2012	1.31186	621.00
2013	1.32168	631.00
2014	1.29976	633.23
2015	1.26716	643.06
2016	1.21308	649.58
2017	1.18259	647.48
2018	1.14804	655.49
2019	1.13208	669.78
2020	1.10861	675.47
2021	1.03815	687.17
2022	0.99711	731.99
2023	0.98317	793.21
2024	1.00289	812.54
2025	1.01603	833.22

Cross-Program Beneficiaries

Beneficiaries by Program, December 2025

About 74.9 million people received a payment from one or more programs administered by SSA. Most (67.5 million) received OASDI benefits only, 4.9 million received SSI payments only, and 2.5 million received payments from both programs.

Beneficiaries Aged 65 or Older, December 2025

Benefits were paid to 58.3 million people aged 65 or older. About 1.4 million received both OASDI and SSI.

Disabled Beneficiaries Aged 18–64, December 2025

Payments were made to almost 10.1 million people aged 18–64 on the basis of their own disability. Of those individuals, 62% received disability payments from the OASDI program only, 29% received payments from the SSI program only, and 9% received payments from both programs.

Social Security Financing

How Social Security Is Financed

Social Security is largely a pay-as-you-go program. Most of the benefits paid to today's recipients are financed by the payroll taxes collected from today's workers. In 2025, the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds collected $1.45 trillion in revenues. Of that amount, 91.3% was from payroll tax contributions and reimbursements from the General Fund of the Treasury and 4.0% was from income taxes on Social Security benefits. Interest earned on the government bonds held by the trust funds provided the remaining 4.8% of income. Assets decreased in 2025 because expenditures for benefit payments and administrative expenses exceeded total income.

Social Security's Demographic Challenge

The 2026 Trustees Report projects that the number of retired workers will grow by about 60% over the next 50 years, while birth rates and net immigration are projected to be lower than historical levels. The Trustees project that the ratio of 2.6 workers paying Social Security taxes to each person collecting benefits in 2025 will fall to 2.3 to 1 in 2035. Since 2010, tax and other noninterest income has not fully covered OASI program cost, and the 2026 Trustees Report projects that this pattern will continue for at least 75 years if no program changes are made. However, the Trustees also project that redemption of OASI trust fund assets will be sufficient to allow for full payment of scheduled benefits until 2032.

Show as table

Table equivalent for chart. Ratio of covered workers to Social Security beneficiaries

Year	Workers per beneficiary
1955	8.60
1956	8.07
1957	6.83
1958	5.87
1959	5.42
1960	5.07
1961	4.65
1962	4.29
1963	4.05
1964	3.98
1965	4.00
1966	3.89
1967	3.85
1968	3.82
1969	3.81
1970	3.69
1971	3.56
1972	3.51
1973	3.48
1974	3.38
1975	3.22
1976	3.19
1977	3.20
1978	3.23
1979	3.24
1980	3.21
1981	3.16
1982	3.15
1983	3.15
1984	3.24
1985	3.29
1986	3.29
1987	3.32
1988	3.38
1989	3.40
1990	3.37
1991	3.30
1992	3.25
1993	3.24
1994	3.26
1995	3.27
1996	3.29
1997	3.34
1998	3.38
1999	3.42
2000	3.43
2001	3.40
2002	3.35
2003	3.31
2004	3.31
2005	3.30
2006	3.31
2007	3.29
2008	3.23
2009	3.04
2010	2.94
2011	2.89
2012	2.86
2013	2.84
2014	2.82
2015	2.82
2016	2.82
2017	2.81
2018	2.80
2019	2.79
2020	2.71
2021	2.72
2022	2.76
2023	2.75
2024	2.72
2025	2.65
2026	2.59
2027	2.55
2028	2.51
2029	2.48
2030	2.45
2031	2.42
2032	2.39
2033	2.37
2034	2.35
2035	2.34
2036	2.32
2037	2.31
2038	2.30
2039	2.28
2040	2.28
2041	2.27
2042	2.26
2043	2.25
2044	2.24
2045	2.23
2046	2.23
2047	2.22
2048	2.21
2049	2.20
2050	2.19
2051	2.18
2052	2.17
2053	2.16
2054	2.15
2055	2.14
2056	2.13
2057	2.12
2058	2.10
2059	2.09
2060	2.08
2061	2.07
2062	2.06
2063	2.05
2064	2.03
2065	2.02
2066	2.01
2067	2.00
2068	1.99
2069	1.98
2070	1.97
2071	1.95
2072	1.94
2073	1.93
2074	1.92
2075	1.91
2076	1.90
2077	1.89
2078	1.89
2079	1.88
2080	1.88
2081	1.87
2082	1.87
2083	1.86
2084	1.86
2085	1.86
2086	1.86
2087	1.86
2088	1.86
2089	1.86
2090	1.87
2091	1.87
2092	1.87
2093	1.87
2094	1.88
2095	1.88
2096	1.88
2097	1.89
2098	1.89
2099	1.89
2100	1.89

The Long-Run Financial Outlook

Social Security is not sustainable over the long term at current benefit and tax rates. Since 2010, the program has annually paid more in benefits and expenses than it collected in taxes and other noninterest income, and the 2026 Trustees Report projects this pattern to continue for the next 75 years. The Trustees estimate that the combined OASI and DI trust fund reserves will be depleted by 2034. At that point, payroll taxes and other income will flow into the fund but will be sufficient to pay only about 83% of program costs. As reported in the 2026 Trustees Report, the projected shortfall over the next 75 years is 4.24% of taxable payroll.

Show as table

Table equivalent for chart. Social Security noninterest income minus costs as a percentage of taxable payroll

Year	Percent
2026	-2.45
2027	-2.77
2028	-2.69
2029	-2.68
2030	-2.67
2031	-2.64
2032	-2.63
2033	-2.59
2034	-2.60
2035	-2.61
2036	-2.68
2037	-2.77
2038	-2.86
2039	-2.94
2040	-3.01
2041	-3.07
2042	-3.13
2043	-3.20
2044	-3.27
2045	-3.35
2046	-3.41
2047	-3.47
2048	-3.54
2049	-3.61
2050	-3.68
2051	-3.77
2052	-3.87
2053	-3.97
2054	-4.08
2055	-4.20
2056	-4.32
2057	-4.44
2058	-4.57
2059	-4.70
2060	-4.82
2061	-4.94
2062	-5.06
2063	-5.17
2064	-5.27
2065	-5.38
2066	-5.49
2067	-5.59
2068	-5.70
2069	-5.81
2070	-5.93
2071	-6.04
2072	-6.15
2073	-6.26
2074	-6.37
2075	-6.46
2076	-6.55
2077	-6.64
2078	-6.71
2079	-6.77
2080	-6.83
2081	-6.88
2082	-6.92
2083	-6.95
2084	-6.97
2085	-6.98
2086	-6.98
2087	-6.96
2088	-6.94
2089	-6.91
2090	-6.88
2091	-6.84
2092	-6.80
2093	-6.76
2094	-6.73
2095	-6.69
2096	-6.66
2097	-6.63
2098	-6.60
2099	-6.58
2100	-6.57