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Head of Social Security says the program will be around for another 90 years

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Cite

Scott, O. (2026, October 13). Head of Social Security says the program will be around for another 90 years. The Independent. https://www.independent.co.uk/news/world/americas/us-politics/social-security-trump-frank-bisignano-b3065873.html

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The Independent · collected 2026-10-13 · by Owen Scott

Quick Summary

Frank Bisignano, the commissioner of the Social Security Administration (SSA), stated on CNBC's Squawk Box that the program is expected to last for another 90 years. He emphasized this longevity amid recent concerns over funding shortfalls and President Trump’s suggestion to invest trust funds in the stock market. The SSA recently announced a projected cost-of-living adjustment of 3.5 percent, raising an average monthly Social Security check from $1,941.76 to $2,009.72 starting in 2027.
Written by AI on 2026-10-13, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

The Commissioner of the Social Security Administration (SSA), Frank Bisignano, recently stated on CNBC's Squawk Box that the Social Security program will continue to operate for another 90 years. This assurance comes in response to earlier concerns about a potential funding shortfall and President Trump’s suggestion to invest Social Security trust funds into the stock market. Despite these worries, Bisignano emphasized the SSA’s commitment to "protect and preserve" the program. When asked if increased life expectancy should lead to raising the retirement age, Bisignano affirmed that while there will always be questions, the current system has been effective for America so far. His remarks were made prior to announcing the annual cost-of-living adjustment (COLA), which aims to help beneficiaries keep up with inflation.

Written for “Social Security Future” on 2026-11-05, grounded in this article and the 0 other(s) covering the same event.

Story

📰 Social Security Future
Politics · 1 article(s) covering the same event.

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Claims extracted
19
sentences that state something as happening or true
Uncertain
21%
4 of 19 hedged ("reportedly", "may", "according to")
Leaning
withheld
no quote in the article backed the model's score
Publisher signals
59/100
The Independent's corrections and hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Politics
Same framing elsewhere
1
articles that frame the event the way this one does
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The Independent · 3765 article(s) · 10 correction(s) detected
Running correction rate · 10 correction(s)

Who wrote this

Owen Scott
93 article(s) here · 1 carrying a prediction
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Also by Owen Scott
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Topics

CNBC Independent SSA Social Security the Social Security Administration

Subjects

Social Security ORG · 9× SSA ORG · 5× Bisignano PERSON · 3× Trump PERSON · 2× America GPE · 1× CNBC ORG · 1× Frank Bisignano PERSON · 1× Independent ORG · 1× the Senior Citizens League ORG · 1× the Social Security Administration ORG · 1×

Narrative

Just last week, though, Trump said that he believed in a reimagining of the Social Security funding structure, telling reporters that the Social Security trust funds should be invested into the stock market. “I wanted to ride with Social Security being fully invested in the stock market in the first month of my first year,” he told reporters.
framing: mixed · carried by 1 article(s) · first seen 2026-10-13
🔮 The commissioner of the Social Security Administration says that the program will last for another 90 years.

Claims (19 extracted, 4 hedged)

The commissioner of the Social Security Administration says that the program will last for another 90 years. asserted
program → say → years
Concerns over the longevity of some Social Security programs were raised earlier this year amid an anticipated funding shortfall, with President Trump having suggested that Social Security trust funds should be invested into the stock market. However, Frank Bisignano, the SSA commissioner, says that the program will continue. uncertain
program → raise → market
It’s 90 years old. asserted
It → ’ → ?
It’ll be around for another 90 years,” he said on CNBC’s Squawk Box. asserted
he → say → Box
“The president has promised ‘protect and preserve’ and that’s what we’re doing.” Asked whether people living longer lives due to advances in healthcare should result in a rise in the retirement age, Bisignano responded: “There will always be questions, but so far we’ve done a great job for America on it.” asserted
we → promise → it
Bisignano made the remarks ahead of the unveiling of the SSA’s cost-of-living adjustment on Wednesday. asserted
Bisignano → make → Wednesday
The annual COLA is designed to protect the purchasing power of Social Security checks against inflation. asserted
COLA → design → inflation
The 2027 COLA is expected to be 3.5 percent, according to the Senior Citizens League. uncertain
COLA → expect → League
That would increase an average monthly Social Security check from $1,941.76 to $2,009.72, according to data released in August by the SSA. uncertain
That → increase → SSA
The CPI measured annual inflation as 3.4 percent in August, with the Bureau of Labor Statistics expected to say that year-on-year inflation was at 3.6 percent in September, according to the Federal Reserve Bank of Cleveland. uncertain
inflation → measure → Cleveland
The Social Security Act was signed into law all the way back in August 1935, under then-President Franklin D. Roosevelt. asserted
Act → sign → Roosevelt
“For 90 years, Social Security has stood as a promise kept, ensuring that older Americans, people with disabilities, and families facing loss have the support they need,” Bisignano said in a statement last year. asserted
Bisignano → stand → statement
“As we honor this legacy, we are also building a future where service is faster, smarter, and more accessible than ever before.” asserted
service → honor → future
Just last week, though, Trump said that he believed in a reimagining of the Social Security funding structure, telling reporters that the Social Security trust funds should be invested into the stock market. “I wanted to ride with Social Security being fully invested in the stock market in the first month of my first year,” he told reporters. asserted
he → say → reporters
“Had we done that, Social Security right now would be the richest entity anywhere in the world.” asserted
Security → do → world
Wider concerns over funding were raised by the SSA in a message to the public early this year, with the administration saying that the Old-Age and Survivors Insurance Trust Fund would only be able to cover all scheduled benefits until the fourth quarter of 2032. asserted
Fund → raise → 2032
After that, the fund’s reserves will only be able to cover 78 percent of the scheduled benefits. asserted
reserves → cover → benefits
If combined with the Disability Insurance Trust Fund - which can be funded until at least 2100 - the resultant OASDI fund would be able to pay 100 percent of benefits until the third quarter of 2034, before dropping to 83 percent of scheduled benefits. asserted
fund → combine → benefits
The SSA says that lowered fertility rates, lower immigration and policies contained in the One Big Beautiful Bill Act mean that the OASI and DI Trust Funds will have lower revenue. asserted
Funds → say → revenue
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