For many of us, age 67 + a few months is what is considered full retirement age for Social Security benefits. If nothing changes with the current system, the trust fund will be depleted in 2034. It is estimated that the contributions paid in after that date will not provide the needed funds to support those who will be getting Social Security checks. So what is the solution?
Most likely, the age to receive full benefits will be pushed out to 70, with early Social Security benefits starting somewhere around age 64. Currently, for those who choose to defer their payments, there is a credit of 8%/year up to age 70. In my humble opinion, if the deferral rate was lowered to 5%, that would save the current trust fund a lot of money.
Who really knows what changes will occur – but change will occur.

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