According to a new survey commissioned by Engage America for its Social InSecurity Project, many Americans think Social Security will not exist in its current form when they retire. In fact, the Social Security Administration reports that by 2036 they will not have enough cash to pay promised benefits. Unless changes are enacted to Social Security, retired Americans as of 2036 will receive only 77% of the payouts promised.
The survey also revealed 63% of respondents do not believe that in 2036 Social Security “will remain fully funded and operate basically as it does today,” and 37% think Social Security “will cease to exist.”
The survey was conducted by CfK Roper Public Affairs, a division of GfK Custom Research North America, and was conducted from October 28-30, 2011. A total of 1,000 interviews were completed.
For more information, visit www.engageamerica.com.