3 Changes to Social Security You Probably Didn't Know

Most retirees are now abundantly aware of the rapidly rising prices that characterize the current economic environment. As such, a working knowledge of the Social Security system and its related payment calculations is of renewed importance. To make things even more challenging, actuarial projections around Social Security are also constantly changing, which means covering retirement expenses is now like trying to hit a moving target.

Let's explore four Social Security changes you may or may not know about.

According to the Social Security Administration's (SSA) most recent annual report, retirees can expect to receive full benefits through 2034 -- a year later than previously thought. At that time, the SSA's reserve funds are expected to deplete, and future payments will cover 77% of currently scheduled benefits.

Source Fool.com