Social Security pay cuts are looming. Full retirement age may rise again.

New changes to Social Security could be looming for a small percentage of people creating an increase in the retirement age from 67 years old to 69 years old. All of this could be alleviated if the cap of Social Security tax was removed. Also, if no changes take place a 22% pay cut could be coming in the year 2032 as the trust fund continues to be borrowed against causing all of the problems to the Social Security system