Fears Spur Record Filings For Social Security Benefits

CBS News reports:

Older Americans are filing for Social Security benefits at a record rate this year, a surge that could reflect growing anxiety about the stability of the retirement system amid cutbacks under the Trump administration, experts say. The number of people claiming Social Security jumped 17% to 1.8 million this year through May compared with the same period a year ago. For the federal fiscal year, new filings are on track to reach 4 million, up 15% from the prior fiscal year.

The spike in early benefits claims comes as the Trump administration has slashed jobs and made other changes at the Social Security Administration, an agency already struggling to provide services to the nearly 70 million retirees, disabled people and survivors of deceased workers who rely on the program. These developments are likely prompting the surge in new filings, as well as an increase in calls and in-person visits to Social Security offices since January, the Urban Institute said.

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Americans are filing for Social Security at record rates amid fears about its future https://t.co/Ew6eGVTYWg

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