What Difference Does Social Security Make To Poverty?

May 11, 2011 5:33 am

Did you know, that without social security in the US, some 45 percent seniors would be below poverty line?

We spotted these stats on Social Security today:

“Without Social Security, 45 percent of seniors would be under the poverty line. With Social Security, 10 percent of seniors are under the poverty line.

For the average 65-year-old retiring in 2010, Social Security replaced about 40 percent of working-age earnings. That “replacement rate” is scheduled to fall to 31 percent in the coming decades.”

Statistics Source: EconomistsView

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