SOCIAL SECURITY
Social Security benefits at risk in 2032: Will 35 new Senators prevent a 22% cut?
Social Security benefit cuts 2032: Social Security faces a potential 22% benefit cut in 2032 as its retirement trust fund is projected to run out of reserves. Thirty-five newly elected senators will have to confront the funding challenge, with proposals ranging from raising payroll tax limits on high earners to changing how retirement funds are invested.
Voters demanded economic relief. Trump and Democrats face tough choices on how to deliver
Voters have conveyed a clear message about the necessity of addressing inflation and economic issues. Both parties are preparing to respond to the economic challenges revealed by recent election outcomes. The Federal Reserve may gain independence to curtail inflation as Trump and Democrats grapple for control. Efforts to secure Social Security funding are urgent as benefits become jeopardized after 2032.
India to launch new cheque book rules from January 1, 2027? RBI clarifies
RBI has clarified that there will be no changes to the standard CTS cheque books in 2027. Social media messages claimed new cheque books with security features would be introduced from January 1. The central bank has emphasized these claims are misleading and factually incorrect. RBI urges the public to rely only on information published by the bank.
From eastern airbase, Rajnath Singh calls for highest readiness
Defence Minister Rajnath Singh addressed air warriors at Bagdogra Air Force station regarding national security threats. He highlighted the need for armed forces to maintain high operational readiness amid complex security challenges. Singh noted that adversaries may exploit vulnerabilities through misinformation instead of direct confrontation.
Social Security payroll tax cap rises to $192,300 in 2027: How much more will high earners pay from their paychecks, who will be affected, and what does it mean for your take-home pay?
Social Security taxes will take a bigger bite out of some high earners' paychecks in 2027. The taxable income limit is rising to $192,300 from $184,500, meaning another $7,800 of wages will be taxed. Workers earning above the new limit could pay up to $483.60 more next year. The increase comes as retirees are set to receive a 3.6% benefit boost.
Warren Buffett’s retirement income strategy: How a 90/10 rule could help a 65-year-old turn $600,000 into monthly income
For a 65-year-old with a traditional IRA of $600,000, adopting Warren Buffett’s 90/10 investment strategy is a practical choice. This approach allows for a balanced monthly withdrawal that integrates Social Security and IRA funds. By allocating 90% to S&P 500 index funds and 10% to Treasury bills, one can ensure withdrawal stability.
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Jairam Ramesh questions Centre over reported proposal to replace Aadhaar with Voter ID for welfare schemes
Jairam Ramesh has voiced serious concerns about the government's initiative to utilize Voter ID for welfare programmes, suggesting that this could undermine the intended functions of Aadhaar. He highlighted that several beneficiaries have already encountered hardship under Aadhaar's system. Ramesh cautioned that adopting Voter ID instead might worsen the challenges surrounding access to essential benefits and amplify debates on electoral integrity and citizens' rights in India.
Lenskart, Nykaa, PhysicsWallah see Q2 profits surge
New-age companies Nykaa, Lenskart, and PhysicsWallah reported strong numbers for the September quarter. This and more in today’s ETtech Top 5.
Gig workers may get social security benefits through 2% transaction levy on businesses
The government is considering implementing a 2% transaction-based levy on aggregators to support social security for gig workers. This levy will fund benefits such as insurance, health, and maternity support for over 12 million workers. There is a consensus that this approach ensures fairness among different types of aggregators. The new scheme is expected to be launched in 2027, requiring gig workers to meet specific work criteria.
ETtech Explainer: Food delivery, ride-hailing firms differ on gig worker welfare levy calculation
Food delivery and quick-commerce companies such as Zomato and Swiggy are seeking a levy based on the value of transactions facilitated through their platforms, while cab and bike-taxi aggregators such as Uber and Rapido want it to be calculated on their own turnover rather than the total value of rides facilitated.
Social Security benefits warning: Will retirees lose $500 a month when the retirement trust fund runs out in 2032? What the latest forecast means for your monthly checks
The Social Security retirement fund is projected to exhaust its reserves by the end of 2032 without any legislative intervention. If changes are not made, monthly benefits for retirees might face substantial reductions, estimated between 22% and 26%. This impending decline is attributed to demographic shifts like an increasing elderly population and dwindling birth rates. Lawmakers have a limited timeframe to tackle these pressing issues before retirees experience significant cuts.
Who gets Social Security tomorrow, November 3? Is your payment COLA-adjusted, and how much will beneficiaries receive in November?
Social Security payments begin November 3 for beneficiaries who started collecting before May 1997. Other recipients will receive benefits on November 10, 18 or 25, depending on their birthdays. Veterans Day shifts the first birthday-based payment forward by a day, while SSI recipients received November's payment early, on October 30, because November 1 falls on Sunday.
How much will your Medicare premium rise in 2027 and how much of your Social Security raise will you actually keep?
The standard Medicare Part B premium may go up by $6.60 a month next year. That is far smaller than the jump in 2026. Still, for people living on Social Security, even a small rise matters, because the premium usually comes out of the monthly check.
Social Security November payments twist: Millions of Americans could see an unexpected change to their Wednesday checks this year
Mark your calendar if you were born between the 1st and 10th. Your Social Security payment for November will arrive on Tuesday, November 10, not Wednesday. Veterans Day falls on November 11, a federal holiday with banks shut. This is the only date change in 2026.
Centre sets up social security board to frame welfare schemes for gig workers
In a significant move, the Ministry of Labour and Employment has initiated the National Social Security Board, designed to improve welfare for unorganised and gig economy workers. This board will advise on the rollout and supervision of important social security programs. Scheduled to meet three times annually, it will also manage policy discussions and oversee the financial aspects of the Social Security Code.
Social security projected benefit cuts 2032: Millions of Americans may miss out 22 per cent of total retirement income. Check SSA-CoLA calculations
Social security projected benefit cuts 2032: At that time the fund's projected income will be sufficient to pay just 78 per cent of scheduled benefits, indicating beneficiaries will see a 22 per cent cut in monthly Social Security retirement income.
Gig workers get a seat at the table as Centre notifies social security boards
The Ministry of Labour and Employment has notified the National Social Security Board for unorganised workers and gig workers. This board will enable the implementation of welfare schemes designed to address social security gaps. It will include representatives from government, companies, and civil society to ensure diverse input. The board is expected to meet regularly to discuss policies affecting these workers.
Social Security COLA 3.6% vs 3.4% wage growth: will retirees gain more buying power than workers earning wages in 2027, and is inflation eating the raise?
Social Security benefits are set to increase by 3.6% in 2027, but will retirees actually feel richer? The answer depends on how quickly everyday expenses rise. Workers face a different test, as salary increases may fall behind inflation. For both groups, higher income will offer real relief only if it keeps pace with rising living costs.
Why is your Social Security taxed, and how much can you save? 5 ways to cut the bill and keep more retirement income
Many American retirees pay federal taxes on their Social Security benefits, even after spending decades contributing to the system. For people living on a fixed income, these taxes can leave less money for everyday expenses. The good news is that retirement planning can also help reduce the amount owed. Here are five ways to manage your income and potentially lower the federal taxes on your Social Security benefits.
Supplemental Security Income checks arrive October 30: Who gets the November payment early? Here's what recipients need to know
Supplemental Security Income payment: SSI recipients will receive their November 2026 payment on October 30, ahead of the usual monthly date. Since November 1 falls on a Sunday, the deposit is arriving early. Here's who qualifies for the payment and why recipients should not expect an extra check.
When will your Social Security payment arrive in November 2026? Two dates shift, and SSI gets paid early
Social Security recipients should check their November 2026 payment dates, as two schedule changes could affect when the money arrives. SSI beneficiaries will receive their November payment on October 30, while some retirees will be paid early because of Veterans Day. The 2027 COLA increase is another key update.
Final October Social Security payment of up to $5,181 lands Wednesday: why only some retirees are paid this week and how much you can actually expect
Some US retirees could receive up to $5,181 in Social Security benefits on Wednesday, October 28. But the amount is not for everyone, and payment dates vary by birth date and eligibility. Here’s who is due to be paid this week and what retirees can realistically expect.
Three Social Security payments in 7 days starting October 28: Why November SSI arrives early and the full payout schedule
For Social Security recipients, three key payment dates are coming up from October 28 to November 3. The initial payment on October 28 caters to those with birthdays from the 21st to the 31st. Following that, on October 30, an early deposit for Supplemental Security Income will be issued since November 1 lands on a Sunday.
Working while collecting Social Security? Here's what could happen to your checks in 2027
Social Security recipients who continue working in 2027 will face higher earnings limits before benefits are withheld. Find out how much you can earn, what income counts toward the limit and how claiming benefits before full retirement age could affect your monthly checks.
Will working cut your Social Security check in 2027? The new $25,560 earnings limit could affect your monthly check — here's what retirees need to know
Took Social Security at 62 but still working? Watch your earnings. In 2027, if you earn above $25,560, the SSA withholds $1 for every $2 extra. It is not lost. After full retirement age, your monthly cheque rises to make up for it. Pensions and interest income do not count.
Social Security gets a 3.6% raise in 2027, but a 22% cut looms by 2032: Could a 40% payroll tax hike make Millennials and Gen Z pay more?
Your Social Security payment will rise 3.6% in January 2027, about $75 more a month on average. But the bigger story is 2032, when the retirement fund runs dry and benefits could be cut 22%. Fixing it may mean higher payroll taxes for workers, and the clock is already ticking.
Social Security Administration database cleanup is underway with nearly 50 million records corrected: What it means for your monthly benefits
The Social Security Administration has corrected nearly 50 million records in its biggest database cleanup yet. Here’s what the changes to death dates and citizenship information could mean for Social Security beneficiaries and their monthly checks.
Can you really pay to increase your Social Security benefits? What the 2027 COLA scam looks like and how to spot it before it costs you
Social Security COLA scam warning: Got a call offering a bigger Social Security cheque in 2027? Here is why you should hang up before you pay or share anything.
Are you getting Social Security payments on Oct. 21 or 30? SSDI averages $1,630, while SSI can reach $994— which check is yours this month?
Social Security recipients are preparing for another round of monthly payments, with the next scheduled deposits due on Wednesday, October 21, 2026. October also brings a calendar change for people receiving Supplemental Security Income (SSI). The November SSI payment will arrive on October 30 because November 1 falls on a Sunday.
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