This report analyzes the fiscal sustainability of the United States public PAYGO pension system (the Old Age, Survivors, and Disability Insurance – OASDI program). The aforementioned program, according to the report, is fully financed until 2035, but will face a deficit thereafter if Congress does not act sooner, through parametric changes or the reduction of benefits, which will allow the program to achieve a long-term balance, avoiding the projected deficit. This report does not take into account the effects of the COVID-19 pandemic on OASDI’s projected income and expenses, so that if future projections consider these effects, the deficit could be more pronounced and occur before the aforementioned date.

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