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How do I show the impact of Social Security benefit cuts with Social Security Timing?

Compare claiming strategies with a potential future benefit reduction in Covisum Suite.

Model benefit cuts in Covisum Suite

Social Security Timing lets you compare claiming strategies under a potential future benefit reduction. This is a planning scenario; it is not a prediction that a specific cut will occur.

  1. Sign in to Covisum Suite and select the client.
  2. Complete the client's Social Security Timing benefits and assumptions, then review Results for the full-benefit projection.
  3. Select Social Security Timing > Benefit Cut in the left navigation.
  4. Enter the Year Benefit Cut Occurs and Percentage Benefits Are Cut.
  5. Select Save and Refresh Results.

Understand the current default assumptions

As reviewed in October 2026, Suite's defaults are 2032 and 22%. You can restore the application's latest defaults with Reset to Current Year Defaults.

The 2026 Social Security Trustees Report projects that the Old-Age and Survivors Insurance (OASI) trust fund's reserves will be depleted in the fourth quarter of 2032. At that time, continuing income is projected to cover 78% of scheduled benefits. Reserve depletion does not mean all Social Security benefits stop.

Suite models a cut beginning in the selected calendar year. That is a simplified planning assumption; the Trustees' projection specifies a quarter, and future legislation or experience could change the outcome. OASI and the hypothetical combined OASDI projections have different depletion dates.

Compare the results

Review What's at Stake, Claim Instructions, Strategy Comparison, Estimated vs. Desired Income, Break-Even, and Cash Flows. Compare Suggested and Earliest strategies, then return to Results to compare with the full-benefit projection.

Check the cash flows to see where the reduction begins and how it changes retirement and survivor income. A benefit-cut assumption can change both the projected amounts and the suggested claiming strategy.

For the Steven and Sophia sample shown in our break-even article, a 22% reduction beginning in 2032 produces projected lifetime benefits of $1,316,114 for Suggested and $1,189,698 for Earliest, a difference of $126,416. This illustration uses 0% inflation and discount rates. It is specific to those sample inputs and does not represent a universal benefit reduction.