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US retirement woes: Could Americans' Social Security payments drop by $500 in 2032? What to know

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US retirement woes: Could Americans' Social Security payments drop by $500 in 2032? What to know
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A new report warns that Americans could face a 24 per cent cut in Social Security benefits by 2032 if Congress fails to address the programme's funding shortfall. The reduction could lower monthly payments by about $500 on average.

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