The Social Security Administration (SSA) recently released their 2014 edition of Fast Facts & Figures about Social Security, which highlights data for Social Security and Supplemental Security Income (SSI) benefits. We have listed some highlights for you below.
Current Social Security Benefit Statistics
- 87% of married couples and 86% of single people 65 years or older received Social Security benefits in 2012.
- 52% of aged beneficiary couples and 74% of aged unmarried beneficiaries count on Social Security as their major source of income (Social Security provides over 50% of total income).
- Social Security benefits provide 90% or more of total income for 22% of aged beneficiary couples and 47% of aged non-married beneficiaries.
New Benefit Award Statistics for 2013
Social Security benefits were awarded to approximately 5.5 million people nationwide in 2013. Of those, 16% were disabled workers and another 50% were retired. Survivors or spouses account for the remaining 34%. These numbers include anyone who received new benefits, including if the individual was reclassified and entitled to different benefits.
New Social Security Benefit Awards by Type of beneficiary
Retirees & Dependents 3,305,000 (60%)
Retired Workers = 2,794,000 (50%)
Spouses & Children = 511,000 (9%)
Disabled Workers & Dependents = 1,367,000 (25%)
Disabled Workers = 869,000 (16%)
Disabled Workers’ Spouses & Children = 498,000 (9%)
Survivors of Deceased Workers = 862,000 (16%)
Beneficiaries by age
Under 18 = 6%
18-61 = 15%
62-64 = 9%
65-74 = 38%
75-84 = 22%
85 or older = 10%
Contact a proven Pennsylvania Social Security Disability attorney at Handler Henning & Rosenberg today for a free consultation about your SSD claim.