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- Approximately 7.2 million Americans, including two million children, currently receive Social Security survivor’s benefits.
- Studies show that younger Americans face roughly a 1-in-6 chance of dying before reaching retirement age, and that a 20 year old stands nearly a 3-in-10 chance of becoming disabled before retirement age.
- You can retire and draw Social Security benefits as early as age 62, but the benefit you receive will be less than your full retirement benefit and will be permanently reduced.
- The age for full retirement for people retiring now is 65. Because of longer life expectancies, the full retirement age for people born after 1937 is increasing gradually and will reach age 67 for people born 1960 and later.
- Today’s 65-year old worker earns an extra 5.5 percent in Social Security benefits for each year they delay retiring up to age 70.
- Survivors benefits are payable to a widow or widower at any age who is taking care of the worker’s child who is under age 16 or disabled and getting benefits.
- A widow or widower can get full survivors benefits at age 65 or older, or reduced benefits as early as age 60. A disabled widow or widower can get survivors benefits at age 50 – 60.
- More than four million disabled workers under age 65 and 1.6 million dependents currently receive Social Security benefits.
- The importance of retirement income security will grow in the future. Today there are 35 million older Americans. By 2030, that number will have more than doubled as the 77 million members of the baby boom generation move into retirement.
- Social Security provides a strong foundation for retirement income.
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Social Security Administration
| American Savings Education Council 
