Basic Social Security Facts from U.S. Government - Every senior should know!

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Social Security is the major source of income for most of the elderly.

  • Nine out of ten individuals age 65 and older receive Social Security benefits.
  • Social Security benefits represent about 39% of the income of the elderly.
  • Among elderly Social Security beneficiaries, 53% of married couples and 74% of unmarried persons receive 50% or more of their income from Social Security.
  • Among elderly Social Security beneficiaries, 22% of married couples and about 47% of unmarried persons rely on Social Security for 90% or more of their income.

Social Security provides more than just retirement benefits.

  • Retired workers and their dependents account for 72% of total benefits paid in June 2015.
  • Disabled workers and their dependents account for 15% of total benefits paid in June 2015.
    • About 90 percent of workers age 21-64 in covered employment in 2013 and their families have protection in the event of a long-term disability.
    • Just over one in four of today’s 20 year-olds will become disabled before reaching age 67.
    • 69% of the private sector workforce has no long-term disability insurance.
  • Survivors of deceased workers account for 10% of total benefits paid.
    • About one in eight of today’s 20 year-olds will die before reaching age 67.
    • About 96% of persons aged 20-49 who worked in covered employment in 2013 have survivors insurance protection for their young children and the surviving spouse caring for the children.

The facts are amazing! Read more- 

Basic Social Security Facts from U.S. Government: 

https://www.ssa.gov/news/press/basicfact.html

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