Social Security Benefits Decline

August 10, 2012 at 11:22 am Leave a comment

The Philadelphia Inquirer carried an article by Stephen Ohlemacher entitled “A Fading Future for Benefits”.  Located at http://articles.philly.com/2012-08-07/news/33066155_1_benefit-estimates-social-security-david-certner, the article predicts that new retirees will receive less in benefits than they paid in unlike preceding retirees.  However, as the article points out, if you live longer, you will receive more!  The article contains a couple of important messages.  As mentioned earlier this week, the 2012 Social Security Trust Report indicated that the system will use up the trust by 2033.  It’s important to interpret the data to not  expect to fully rely on social security benefits when you retire.  Personal savings are vital.

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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