(Undated) – Younger Americans are less optimistic about social security benefits as public confidence in the program declines.
According to a new AARP survey, 36-percent of respondents were very or somewhat confident in the future of Social Security, which marks a seven-point drop from 2020. Polling found lower confidence levels were mainly driven by younger Americans while the number of retired respondents who say they either rely on or plan to rely on Social Security in a substantial way rose from 51-percent in 2005 to 65-percent this year.
Projections from a board of trustees of the program’s accounts reported last month that the combined trust funds for Social Security are projected to run out in 2034 instead of 2035, citing passage of the Social Security Fairness Act as a key factor behind the change.
