The future of the Social Security program continues to be a hot topic for many politicians. This program helps retirees pay for the basic comforts needed throughout retirement. However, if nothing is done to secure the future of Social Security, beneficiaries may face benefit cuts.

To allow America’s seniors to enjoy the financially secure retirement they’ve earned —and deserve, Congress must address the various reasons why Social Security may not provide the level of benefits that should be guaranteed for everyone who has paid into the program!

According to AOL.com, there are many reasons why the future of Social Security is in jeopardy; they include the following:

Longer Retirements

The life expectancy in the United States is on the rise. This means that individuals are relying on the Social Security program for longer, creating a higher total payout from the reserve.

And while the program will never go broke, it is also not an endless reservoir of finances. There is more money flowing out of the program than there is flowing in, which brings us to the current state of the workforce.

Not Enough Workers

Currently, the workforce is lacking when compared to the number of Social Security beneficiaries. With how the program was set up, the decreasing ratio of workers to beneficiaries is leaving it underfunded. If this remains the case, beneficiaries will not be able to receive full benefits from the program.

Low-Interest Rates

Social Security’s future benefits from higher interest rates. The higher rates allow the program to make more money, allowing it to become more solvent.

However, interest rates have been trending low for a few years now, causing the program to make less money. If this trend continues, the Social Security program will need to “re-calibrate with lower income” for beneficiaries, AOL reports.

Seniors Deserve Guarantees

These are all important issues to take under consideration when looking at the Social Security program. But there is an easier way to give seniors the reassurance and guarantees they need to feel more financially secure throughout retirement. Our bill, The Senior Citizens Bill of Rights, provides seniors with seven essential rights, including the right to a guaranteed benefit payment.

This guarantee reassures retirees that the government cannot take away any of their benefits, forcing politicians in Washington to look for another way to help the program and secure its future. For more information about this bill and how you can support the Senior Security Alliance’s efforts to ensure a brighter future for America’s retirees, please check out our page here.