Study: Social Security Recipients Could Face Benefit Cuts This Decade

Katie Brockman, The Motley Fool
Study: Social Security Recipients Could Face Benefit Cuts This Decade

Around 1 in 5 married couples rely on their monthly checks for at least 90% of their retirement income, according to the Social Security Administration, as do close to half of unmarried beneficiaries. As a result, there is a chance Social Security recipients will see their benefits reduced in the relatively near future. Many experts believe that won't happen for at least a decade, but a new study suggests benefit cuts might be closer than you think thanks to the COVID-19 pandemic.