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Program Explainers

  1. Scheduled vs.
    Payable Benefits
  2. Special
    Minimum Benefit
  3. Why Will Poverty Decline
    for Beneficiaries?

Chart Descriptions - Scheduled vs. Payable Benefits

Released: March 2015
Next expected update: 2018

All projections are for beneficiaries aged 60 or older.

Average (Median) Monthly Benefit, 2030–2070
(in 2015 dollars)
Year Scheduled benefits Payable benefits
2030 1,503 1,503
2050 1,831 1,401
2070 2,253 1,699
SOURCE: Modeling Income in the Near Term, Version 7 (MINT7) microsimulation model using 2012 Trustees Report intermediate assumptions.
Difference Between Scheduled and Payable Benefits, 2015–2080
Year Difference (percent)
2015 0
2016 0
2017 0
2018 0
2019 0
2020 0
2021 0
2022 0
2023 0
2024 0
2025 0
2026 0
2027 0
2028 0
2029 0
2030 0
2031 0
2032 0
2033 -24.7
2034 -24.9
2035 -25.0
2036 -25.1
2037 -25.1
2038 -25.1
2039 -24.9
2040 -24.8
2041 -24.6
2042 -24.4
2043 -24.3
2044 -24.1
2045 -24.0
2046 -23.9
2047 -23.8
2048 -23.7
2049 -23.6
2050 -23.5
2051 -23.5
2052 -23.5
2053 -23.5
2054 -23.5
2055 -23.6
2056 -23.6
2057 -23.7
2058 -23.8
2059 -23.8
2060 -23.8
2061 -23.9
2062 -23.9
2063 -23.9
2064 -24.0
2065 -24.0
2066 -24.1
2067 -24.2
2068 -24.3
2069 -24.4
2070 -24.6
2071 -24.7
2072 -24.8
2073 -24.9
2074 -25.0
2075 -25.1
2076 -25.3
2077 -25.4
2078 -25.5
2079 -25.6
2080 -25.8
SOURCE: Assumptions from the 2012 Trustees Report.
Poverty Rate, 2015–2080 (percent)
Year Scheduled benefits Payable benefits
2015 5.8 5.8
2016 5.8 5.8
2017 5.7 5.7
2018 5.6 5.6
2019 5.8 5.8
2020 5.7 5.7
2021 5.6 5.6
2022 5.6 5.6
2023 5.6 5.6
2024 5.6 5.6
2025 5.4 5.4
2026 5.2 5.2
2027 5.2 5.2
2028 5.1 5.1
2029 5.2 5.2
2030 4.9 4.9
2031 4.8 4.8
2032 4.8 4.8
2033 4.7 9.0
2034 4.6 9.0
2035 4.4 8.8
2036 4.2 8.6
2037 4.2 8.5
2038 4.1 8.4
2039 4.0 8.2
2040 4.2 8.3
2041 4.1 8.1
2042 4.1 8.1
2043 4.0 7.9
2044 3.8 7.9
2045 3.8 7.8
2046 3.8 7.6
2047 3.6 7.5
2048 3.5 7.3
2049 3.5 7.1
2050 3.5 7.0
2051 3.4 6.9
2052 3.4 6.8
2053 3.3 6.6
2054 3.2 6.6
2055 3.0 6.3
2056 2.8 6.1
2057 2.9 6.1
2058 2.8 6.0
2059 2.7 5.9
2060 2.6 5.8
2061 2.5 5.5
2062 2.4 5.3
2063 2.4 5.4
2064 2.3 5.3
2065 2.2 5.1
2066 2.2 5.1
2067 2.2 5.0
2068 2.2 4.9
2069 2.1 4.8
2070 2.1 4.7
2071 2.1 4.7
2072 2.0 4.4
2073 1.9 4.4
2074 1.9 4.3
2075 1.9 4.2
2076 1.8 4.1
2077 1.7 4.0
2078 1.7 3.8
2079 1.7 3.7
2080 1.6 3.7
SOURCE: Modeling Income in the Near Term, Version 7 (MINT7) microsimulation model using 2012 Trustees Report intermediate assumptions.