Cuts in Social Security after so much crisis and so much inflation are more present in the United States than retirees would like. A series of unfortunate events can happen at any time that can lower benefits. Even so, it does not have to be a drop in retirees’ salaries as such. It can also happen that inflation increases so much that it causes Social Security retirees to lose purchasing power. Fortunately, the COLA helps to keep this from happening, although there are exceptions. For this reason it may be odd that some retirees may lose entitlements after votes in Congress.
The Governor of Florida has voted in the last plenary decision against Seniors’ rights. This is because the proposal was to privatize Medicare, cut Social Security and, in addition, raise the retirement age. If these votes go through, retirees are in for some very bad news. It is not a good idea to delay retirement for everyone, as retirees of the future will be very old by the time they can start to rest after so many years of work.
Still, despite Ron Desantis’ vote in favor, at the moment nothing is yet certain regarding this new change. At the moment, Republicans are attacking Joe Biden’s actions. This is because they claim that inflation is the fault of the benefits from the stimulus checks. The idea of the Republicans is to somehow defuse the social policies that Biden is trying, although for the moment they are not succeeding.
Will the minimum age to claim Social Security be increased to 70?
One of the great fears of U.S. citizens is the increase in the minimum age for Social Security. Currently, to start collecting retirement you need to be 62 years old. This rule changes a little for people with disabilities, but for the rest it is this way. This does not imply that it is mandatory to retire at that age. On the other hand, it is advisable to wait a little longer, until the age of 67, to obtain a full benefit.
Ron DeSantis voted to cut Social Security benefits, raise the retirement age to 70, and privatize Medicare.
RT to spread his shame!#HandsOffSocialSecurity #FLGov @aftunion pic.twitter.com/2PAqEU8lQO
— Social Security Works (@SSWorks) October 21, 2022
In the event that the retirement age is raised, this will be bad news for many people. Not being able to apply for Social Security until the age of 70 is a major setback for society. Older people should be able to rest at 62, as is currently stipulated. In short, if in the end the law changes and we have to wait until age 70 for retirement it does not mean that we will have a higher benefit. It will mean that we will have the same rights, but we will receive them much later.