Current Law Projections
- Why Will Poverty
The Oldest Old in 2050Released: April 2012
Next expected update: Spring 2014
DEFINITION: The oldest old are beneficiaries aged 85 or older in a given year. Projections for beneficiaries aged 60 or older are provided for comparison.
In 2050, we project that:
- The median benefit amount will be higher for the oldest old than for those aged 60 or older.
- The poverty rate will be lower for the oldest old compared with those aged 60 or older.
NOTE: The 2011 Trustees Report projects tax rates will be sufficient to pay 77 percent of scheduled benefits after trust fund exhaustion in 2036, often referred to as payable benefits.
SOURCE: Modeling Income in the Near Term, Version 6 (MINT6) microsimulation model using 2011 Trustees Report intermediate assumptions.