More Americans more optimistic about social security future: Gallup
- Half of U.S. retirees expect to receive Social Security benefits
- 53% of retirees expect they’ll continue to receive their full benefits
- Older workers are more confident; Millennials less optimistic than Gen Z
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(NewsNation) — More Americans are optimistic that Social Security benefits will be available when they retire, according to a Gallup poll.
Among non-retires, 50 percent expect Social Security to pay them a benefit when they retire, compared to 47 percent who don’t think the system will help them.
Gallup reports it’s an increase in non-retirees from readings taken between 2005 and 2015 when majorities of non-retirees polled said they didn’t think they would receive benefits from the system.
The poll found that 53 percent of retirees believe they’ll continue to receive full Social Security benefits — up from 37 percent in 2019 and 49 percent in 2015. Meanwhile, 43 percent of retirees believe their benefits will eventually be cut.
Older workers are more confident than younger workers — 66 percent of respondents 50 and older expect to receive benefits. The poll found that Millennials are often less optimistic about receiving benefits than members of Gen Z.
In 2034, the Social Security system is expected to pay 80 percent of benefits to recipients.
Gallup noted that during his State of the Union speech, President Joe Biden mentioned the system and received support from both Republicans and Democrats to protect Social Security from cuts in federal budget negotiations.
The survey was conducted in June and July among 1,344 non-retirees and 684 retirees and has a margin of error of three percentage points.
