Pamela Kweller RSSA Staff
A recent survey found that Social Security is highly valued by Americans.
In recognition of Social Security’s 85th anniversary, AARP administered a survey to over 1,400 Americans ages 18+ to understand their views on Social Security and retirement benefits.
Here are the survey’s major findings:
- 96% say Social Security is an important government program
- 68% say Social Security is one of the most important government programs
- 56% say Social Security is more important now, during the pandemic, than before
- 2 out of 5 say they rely or plan to rely on Social Security for a significant amount of their retirement income
- 4 out of 5 say they rely or plan to rely on Social Security for at least some of their retirement income
- 3 out of 5 say they lack confidence in the future and solvency of the Social Security program
- Regardless of political party, Social Security support is nonpartisan
The findings of this survey make it clear that Social Security is an essential program and not only do people find it to be important, but they currently rely on it or plan to rely on it in the future.
However, the survey also finds that the majority of Americans are wary of Social Security’s future.
It is important for Americans to understand that there are plenty of solutions to protect the Social Security program.
Social Security has a readily available reserve of $2.89 trillion. This reserve ensures that beneficiaries will be paid their full benefits and will be paid on time even when our country faces a crisis, such as the pandemic we are currently fighting. Although this reserve won’t last forever and over time could become depleted, there are solutions.
There have already been many proposals to protect the program’s solvency, but action needs to be taken. Congress needs to take action and make changes to ensure a strong future for the program, a program that most Americans support and view as important.
View complete AARP survey results here.