Social Security Sticking With Current Retirement Age After Threatening To Raise It
Social Security Commissioner Frank Bisignano is walking back comments he made suggesting the federal government might raise the retirement age for full benefits.
During an interview on Fox Business, he was asked if raising the retirement age, currently set at 67, was being considered. Bisignano replied, “I think everything’s being considered, will be considered.”
He added that any change would require action by Congress and that there was “plenty of time” to make decisions about the program’s future.
The response created concern that raising the retirement age was under review. Hours later, the Social Security Administration posted a statement from Bisignano on X clarifying his remarks, according to The Hill.
“Let me be clear: President Trump and I will always protect, and never cut, Social Security. That’s why we have made many vital reforms, such as cutting waste, fraud, and abuse from the program, to ensure the solvency of Social Security for future generations of Americans,” the statement said. “Raising the retirement age is not under consideration.”
Social Security has been under pressure as projections show its trust fund could run out of money by 2034 if no changes are made. Lawmakers have been debating possible solutions. According to The Hill, a bipartisan group of senators has proposed a $1.5 trillion investment fund to keep benefits flowing, while others have suggested raising the retirement age as a way to save money.
Former Social Security Commissioner Martin O’Malley, appointed by President Biden, warned against raising the age, saying, “[Americans] want their government to strengthen [Social Security] and expand it — not to cut it, contract it or gut its customer service.”
Bisignano said the administration’s goal is to protect the program for future generations, promising that “this is here for the next 90 years, at least.”