Question

When will the social security fund dry up at its current

Answer 1

Social security fund is run by the payroll tax paid by all the employers and the employees, as well as the self-employed people of the society.

All these paid taxes are used for the benefits of the poor, disabled and other needy people.

However, now the numbers of retired people are increasing very fast, compared to the young working people.

Hence, the amounts of payroll taxes are also decreasing; while more people are drawing pension benefits from social security fund.

So this social security fund is drying out very fast now.