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Home Type Aggregated

Nearly 3 in 4 Americans Worried They May Not Get Promised Social Security Payments

by The Epoch Times
November 23, 2024
in Aggregated, News
Nearly 3 in 4 Americans Worried They May Not Get Promised Social Security Payments

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The vast majority of U.S. citizens are concerned about their future social security receipts, with such anxieties popping up amid the projected depletion of social security funds over the next decade.

“More than half (53 percent) of Americans who haven’t retired yet say they expect to rely on Social Security benefits to pay their necessary expenses once they retire,” said a Nov. 21 survey from Bankrate.



“But at the same time, 72 percent of all Americans are concerned that promised Social Security benefits won’t be paid to them upon retirement age.”

Generation-wise, baby boomers and Gen X are most anxious, with more than 80 percent worried about the issue. Among millennials and Gen Z, this number was at 60 percent to 70 percent.

The social security system’s main trust fund is calculated to deplete by 2035, according to a May report from the Social Security Board of Trustees. When funds are depleted, the social security administration will only be able to pay beneficiaries 83 percent of the promised benefits. […]

— Read More: www.theepochtimes.com

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