--- title: Social Security Timing Has Been Updated to Account for Social Security Benefit Cuts description: we’ve updated our Social Security Timing software to help you answer your clients’ biggest questions about Social Security benefit cuts. image: https://www.covisum.com/hubfs/Covisum%20Social%20Security%20Benefit%20Calculator.jpg --- [Login](https://www.covisum.com/login-experience) | [Call: 402-235-4500](tel:1-402-235-4500) | [Contact Us](https://www.covisum.com/contact) ** [![covisum-logo](https://www.covisum.com/hs-fs/hubfs/covisum-logo.png?width=264&height=41&name=covisum-logo.png "covisum-logo")](https://www.covisum.com/) [![Start Your Free Trial](https://no-cache.hubspot.com/cta/default/2755909/b23743cd-d0df-4907-a66d-293b58ab1164.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/b23743cd-d0df-4907-a66d-293b58ab1164) [![Contact Us](https://no-cache.hubspot.com/cta/default/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/6c6d7fe7-e094-4fc0-9c82-d93d4ccbb532) - [Solutions](https://www.covisum.com/software) ** - [Covisum Suite](https://www.covisum.com/software) - [Social Security Optimization](https://www.covisum.com/solutions/social-security-timing) - [Tax Planning](https://www.covisum.com/solutions/tax-clarity) - [Retirement Income Planning](https://www.covisum.com/solutions/income-insight) - [Portfolio Risk Analysis](https://www.covisum.com/solutions/smartrisk) - [Enterprise Solutions](https://www.covisum.com/solutions/enterprise) - [Pricing](https://www.covisum.com/pricing) - [Resources](https://www.covisum.com/resources) ** - [Resources](https://www.covisum.com/resources) - [Events](https://www.covisum.com/events) - [Blog](https://www.covisum.com/blog) - [Customer Reviews](https://www.covisum.com/customer-reviews) - [About](https://www.covisum.com/about) ** - [About](https://www.covisum.com/about) - [Press](https://www.covisum.com/press) - [Careers](https://www.covisum.com/careers) - [Help Center](https://www.covisum.com/knowledge-base) # Social Security Timing Has Been Updated to Account for Social Security Benefit Cuts [SOCIAL SECURITY  |  ](https://www.covisum.com/blog/topic/social-security)4/12/21 2:12 PM  |  by [Lauren Laferla, Director of Communications](https://www.covisum.com/blog/author/lauren-laferla-pr-content-marketing-manager) ## Account for Social Security Benefit Cuts With Social Security Timing  Market volatility and high unemployment caused by the pandemic has left many people nervous about the future of the Social Security system. In fact, the influx of new Social Security claimants, in addition to the reduced income from fewer people working, has some experts estimating that the Social Security system will run out of funds [as early as 2029](https://bipartisanpolicy.org/blog/covid-19-may-deplete-social-security-trust-funds-this-decade/)—rather than 2035 as the last [Social Security Trustees report](https://www.ssa.gov/OACT/TR/2020/tr2020.pdf) indicated. To help you answer your clients’ biggest questions about benefit cuts, we’ve updated our Social Security Timing® software. You can now show clients how Social Security benefits cuts will impact their decision about when to claim with the Social Security Timing benefit cut feature and the consumer-facing benefit cut calculator. Share our free [consumer-facing Social Security benefit cut calculator](https://www.covisum.com/social-security-benefit-cut-calculator) with clients and prospects to start a conversation about the impact of potential benefit cuts. Use the new benefit cuts Social Security Timing software feature to find the best claiming decision for the client's unique situation even if the Social Security administration is forced to make cuts.  The possibility of benefit cuts due to the insolvency of the Social Security system is not enough to suggest that most people should claim benefits early. These calculators allow both consumers and advisors to see what the future could look like if they were to experience Social Security benefit cuts. [Get started now with a FREE trial of Social Security Timing!](https://www.covisum.com/trial) ### Show the Impact of Social Security Benefit Cuts Using Social Security Timing   1. Click on the folder labeled "Social Security" on the client information page. ![Screen Shot 2021-03-31 at 8.19.25 AM](https://www.covisum.com/hs-fs/hubfs/Screen%20Shot%202021-03-31%20at%208.19.25%20AM.png?width=2808&name=Screen%20Shot%202021-03-31%20at%208.19.25%20AM.png) 2. The section labeled "Benefit Cut" allows you to add the year the benefit cut occurs and the percentage that the benefit will be cut by. The default is the year (2034) and percentage (24%) outlined in [The 2020 Annual Report of the Board of Trustees. ](https://www.ssa.gov/oact/TR/2020/index.html) 3. Check the box next to "Include in Social Security Timing Report?" if you'd like to add the information about benefit cuts to the PDF. ![Screen Shot 2021-03-31 at 8.22.20 AM](https://www.covisum.com/hs-fs/hubfs/Screen%20Shot%202021-03-31%20at%208.22.20%20AM.png?width=862&name=Screen%20Shot%202021-03-31%20at%208.22.20%20AM.png) 4. View the impact of the benefit cuts by select the benefit cuts option located to the right of the "Full Benefits Projection."  ![Screen Shot 2021-03-31 at 9-04-59 AM-png](https://www.covisum.com/hs-fs/hubfs/Screen%20Shot%202021-03-31%20at%209-04-59%20AM-png.png?width=2776&name=Screen%20Shot%202021-03-31%20at%209-04-59%20AM-png.png) When it comes to retirement income, every dollar counts—especially right now. A smart Social Security claiming decision can make a huge difference toward helping your clients meet their retirement goals. Start your [10-day free trial](https://www.covisum.com/trial) of Social Security Timing—no commitment—and help your clients prepare for possible Social Security benefit cuts. [![New call-to-action](https://no-cache.hubspot.com/cta/default/2755909/064031c3-58b0-4a72-94df-d2e3473e5e42.png)](https://cta-redirect.hubspot.com/cta/redirect/2755909/064031c3-58b0-4a72-94df-d2e3473e5e42) ### Share this article [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fsocial-security-timing-has-been-updated-to-account-for-social-security-benefit-cuts%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fsocial-security-timing-has-been-updated-to-account-for-social-security-benefit-cuts%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fsocial-security-timing-has-been-updated-to-account-for-social-security-benefit-cuts%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fwww.covisum.com%2Fblog%2Fsocial-security-timing-has-been-updated-to-account-for-social-security-benefit-cuts%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Social%20Security%20Timing%20Has%20Been%20Updated%20to%20Account%20for%20Social%20Security%20Benefit%20Cuts) ## Related Blog Articles [ ### Social Security Social Security Retirement Planning in Times of Uncertainty Read ](https://www.covisum.com/blog/social-security-retirement-planning-in-times-of-uncertainty) [ ### Social Security Social Security Planning Should Be an Essential Part of Your Practice Read ](https://www.covisum.com/blog/ss-planning-an-essential-part-of-your-practice) [ ### Marketing The Financial Advisor’s Guide to Hosting Social Security Webinars Read ](https://www.covisum.com/blog/the-financial-advisors-guide-to-hosting-social-security-webinars) [See All Articles](https://www.covisum.com/blog) ## Covisum’s ecosystem of solutions can help you grow. [Sign Up Free](https://idp.socialsecuritytiming.com/register) ## Stay Connected Access industry news, expert insights, best practices, free downloads and more. [![Logo-White-Stacked](https://www.covisum.com/hs-fs/hubfs/Logo-White-Stacked.png?width=124&height=146&name=Logo-White-Stacked.png "Logo-White-Stacked")](https://covisum.com) - [Solutions](https://www.covisum.com/software) - [Resources](https://www.covisum.com/resources) - [Events](https://www.covisum.com/events) - [About](https://www.covisum.com/about) - [Blog](https://www.covisum.com/blog) - [Help Center](https://www.covisum.com/knowledge-base) 444 Regency Parkway Dr. Suite 201 Omaha, NE 68114 - - - - Read Reviews of Our Solutions In: [![Footer Capterra Logo](https://www.covisum.com/hubfs/Capterra_logo%20(1).svg) ](https://www.capterra.com/p/203728/Tax-Clarity/reviews/)[![Footer G2 Logo](https://www.covisum.com/hubfs/logo-g2.png) ](https://www.g2.com/search?utf8=%E2%9C%93&query=covisum) [![Contact Us](https://no-cache.hubspot.com/cta/default/2755909/interactive-193539503962.png) ](https://www.covisum.com/hs/cta/wi/redirect?encryptedPayload=AVxigLLPHXScJoFhm%2BaFfEiBa%2FEwJbOgLJineFHlIdA%2B4NxlJweuvOP0y33JiZxQKALHmoLsFP6YrZCfg5kigG7Rl4ZsP5VN3KR5jfxp5cuqKKsTweux%2FFYikjzaBF2uqA8HaU072LrwXv7DkzVjGBwjtatYrVFkZUPEmlrGD4apExfO%2FgM%3D&webInteractiveContentId=193539503962&portalId=2755909) [![SOC 2 T2 Logo](https://no-cache.hubspot.com/cta/default/2755909/interactive-193539503801.png) ](https://www.covisum.com/hs/cta/wi/redirect?encryptedPayload=AVxigLJ%2FlfKR1Kxa2C34d7WPLR9PKk7lrcbNp7yn7QrlDtr6X%2F%2BD1HvEVC6qOrKLGLVqofFQ2bOIpgq%2FD2Udkve81n0jYcjxhORupACk%2BEQgqpBVUHKNmPCdGc5UeIfPIMRVqs3ldpFE491S7uHcpntZGgmeq4NgUI74u9Q%2F2YMLP7xDAK68exLHBdBc41ntRvW%2F4Wr5TX%2F4&webInteractiveContentId=193539503801&portalId=2755909) © 2010 – 2026 Covisum®. All Rights Reserved. For advisor use only. Covisum is not connected with, affiliated with or endorsed by the United States government or the Social Security Administration. The local advisor offering Covisum products may be an insurance agent, financial advisor, accountant or attorney. Advisors may offer other products or services and are compensated by commissions and/or fees for any other services they may provide. [Terms and Conditions](https://www.covisum.com/terms-of-use) | [Privacy Policy](https://www.covisum.com/privacy-policy) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Lauren Laferla, Director of Communications", "url" : "https://www.covisum.com/blog/author/lauren-laferla-pr-content-marketing-manager" }, "dateModified" : "2026-07-22T19:36:13.500Z", "datePublished" : "2021-04-12T19:12:00.000Z", "headline" : "Social Security Timing Has Been Updated to Account for Social Security Benefit Cuts", "image" : [ "https://www.covisum.com/hubfs/Covisum%20Social%20Security%20Benefit%20Calculator.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.covisum.com/blog/social-security-timing-has-been-updated-to-account-for-social-security-benefit-cuts", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.covisum.com/hubfs/Covisum-Logo-Grey.png" }, "name" : "Covisum LLC" } } ```