General Information

Income of the Aged Population

Income Levels, 1962 and 2015

Median annual income for married couples and nonmarried persons aged 65 or older increased markedly from 1962 (the earliest year for which data are available) to 2015. Even after adjusting for inflation, median income rose 144% for married couples and 135% for nonmarried persons. A married couple is aged 65 or older if the husband is aged 65 or older or if the husband is aged 54 or younger and the wife is 65 or older.

Median income of aged units, by marital status (in 2015 dollars)

SOURCES: Data for 1962 are from SSA, The Aged Population of the United States: The 1963 Social Security Survey of the Aged (1967). Data for 2015 are SSA calculations from the March 2016 Annual Social and Economic Supplement to the Current Population Survey.

NOTE: An aged unit is a married couple living together or a nonmarried person, which also includes persons who are separated or married but not living together.

Sources of Income, 1962 and 2015

Social Security benefits—the most common source of income for married couples and nonmarried persons aged 65 or older in 1962—are now almost universal. The proportion of the aged population with asset income—the next most common source—was greater in 2015 than it was in 1962. Over the 53-year period, receipt of private pensions increased by four times, and receipt of government pensions nearly doubled. The proportion of couples and nonmarried persons aged 65 or older who had earnings was smaller in 2015 than it was in 1962.

Percentage of aged units receiving income, by source

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Table equivalent for chart. Percentage of aged units receiving income, by source

Income source	1962	2015
Social Security	69	84
Asset income	54	63
Earnings	36	29
Private pensions	9	37
Government employee pensions	9	16

SOURCES: Data for 1962 are from SSA, The Aged Population of the United States: The 1963 Social Security Survey of the Aged (1967). Data for 2015 are SSA calculations from the March 2016 Annual Social and Economic Supplement to the Current Population Survey.

NOTE: An aged unit is a married couple living together or a nonmarried person, which also includes persons who are separated or married but not living together.

Shares of Aggregate Income, by Source, 1962 and 2015

In 1962, Social Security, earnings, income from assets, and government employee and private pensions made up only 85% of the aggregate total income of couples and nonmarried persons aged 65 or older, compared with 96% in 2015. The shares from Social Security, earnings, government employee pensions, and private pensions increased after 1962, while the share from asset income declined.

Aggregate income, by source (in percent)

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Table equivalent for chart. Percentage distribution of aggregate income, by source

Income source	1962	2015
Social Security	31	33
Earnings	29	34
Asset income	16	9
Government employee pensions	6	8
Private pensions	3	12
Other	15	4

SOURCES: Data for 1962 are from SSA, The Aged Population of the United States: The 1963 Social Security Survey of the Aged (1967). Data for 2015 are SSA calculations from the March 2016 Annual Social and Economic Supplement to the Current Population Survey.

NOTE: The unit of analysis is the aged unit, defined as a married couple living together or a nonmarried person, which also includes persons who are separated or married but not living together.

Relative Importance of Social Security, 2015

In 2015, 85% of married couples and 84% of nonmarried persons aged 65 or older received Social Security benefits. Social Security was the major source of income (providing at least 50% of total income) for 50% of aged beneficiary couples and 71% of aged nonmarried beneficiaries. It was 90% or more of income for 23% of aged beneficiary couples and 43% of aged nonmarried beneficiaries. Total income excludes withdrawals from savings and nonannuitized IRAs or 401(k) plans; it also excludes in-kind support, such as Supplemental Nutrition Assistance Program (or SNAP, formerly known as food stamps) benefits and housing and energy assistance.

Percentage of aged units receiving Social Security benefits, by relative importance of benefits to total income

SOURCE: SSA calculations from the March 2016 Annual Social and Economic Supplement to the Current Population Survey.

NOTE: An aged unit is a married couple living together or a nonmarried person, which also includes persons who are separated or married but not living together.

Poverty Status Based on Family Income, 2015

The aged poor are those with income below the poverty line. The near poor have income greater than or equal to the poverty line and less than 125% of the poverty line. Nonmarried women and minorities had the highest poverty rates in 2015, ranging from 15.3% to 18.4%. Married persons had the lowest poverty rates, with 4.4% poor and 2.5% near poor. Overall, 8.8% were poor and 5.0% were near poor.

Poverty status, by marital status, sex of nonmarried persons, race, and Hispanic origin

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Table equivalent for chart. Poverty status, by marital status, sex of nonmarried persons, race, and Hispanic origin, 2015 (in percent)

Characteristic	Poor	Near poor
All persons	8.8	5.0
By marital status
Married	4.4	2.5
Nonmarried men	12.9	6.0
Nonmarried women	15.3	9.1
By race and Hispanic origin
White alone a	7.5	4.6
Black alone a	18.4	7.7
Hispanic	17.5	8.2

SOURCE: SSA calculations from the March 2016 Annual Social and Economic Supplement to the Current Population Survey.

a. Current Population Survey respondents may identify themselves in more than one racial group. The “white alone” and “black alone” categories reflect respondents who reported only one race.

OASDI Program

Earnings in Covered Employment, 1937–2016

People contribute to Social Security through payroll taxes or self-employment taxes, as required by the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA). The maximum taxable amount is updated annually on the basis of increases in the average wage. Of the 171 million workers with earnings in Social Security–covered employment in 2016, about 6% had earnings that equaled or exceeded the maximum amount subject to taxes, compared with 3% when the program began and a peak of 36% in 1965. About 83% of earnings in covered employment were taxable in 2016, compared with 92% in 1937.

Taxable earnings as a percentage of earnings in covered employment and percentage of workers with maximum taxable earnings, selected years

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Table equivalent for chart. Taxable earnings as a percentage of earnings in covered employment and percentage of workers with maximum taxable earnings, selected years

Year	Taxable earnings	Workers with maximum taxable earnings
1937	92.0	3.1
1945	87.9	13.7
1955	80.3	25.6
1965	71.3	36.1
1975	84.4	15.0
1985	88.9	6.5
1995	85.8	5.8
2005	84.1	6.1
2015	82.5	5.8
2016	82.8	6.4

SOURCE: SSA, Office of the Chief Actuary.

Insured Status, 1970–2016

The percentage of persons aged 20 or older who are insured for benefits has changed very little in recent years. To be fully insured, a worker must have at least one work credit (quarter of coverage) for each year elapsed after age 21 (but no earlier than 1950) and before the year in which he or she attains age 62, becomes disabled, or dies. The maximum number of work credits needed to be fully insured is 40. An individual is said to be permanently insured if he or she has earned 40 work credits. To be insured for disability, the worker must be fully insured and have at least 20 work credits during the last 40 calendar quarters. (Requirements for disability-insured status are somewhat different for persons younger than age 31.) Disability benefits are available up to FRA.

Insured Status, by Sex, 1970 and 2016

Although men historically were more likely than women to be insured, the gender gap is shrinking. The proportion of men who are insured declined slightly from 1970 to 2016, with 89% fully insured and 78% insured for disability in 2016. By contrast, the proportion of women who are insured increased dramatically—from 63% to 85% fully insured and from 41% to 73% insured for disability.

Percentage of population in the Social Security area fully insured and insured for disability benefits, by sex

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Table equivalent for chart. Percentage of population in the Social Security area fully insured and insured for disability benefits, by sex

Sex	1970	2016
Fully insured
Men	93	89
Women	63	85
Insured for disability a
Men	84	78
Women	41	73

SOURCE: SSA, Office of the Chief Actuary.

NOTES: The population in the Social Security area includes residents of the 50 states and the District of Columbia adjusted for net census undercount; civilian residents of American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and U.S. Virgin Islands; federal civilian employees and persons in the U.S. armed forces abroad and their dependents; noncitizens living abroad who are insured for Social Security benefits; and all other U.S. citizens abroad.

Figures are subject to revision.

a. Insured for disability excludes those who have reached FRA.

New Benefit Awards, 2016

Benefits were awarded to about 5.5 million persons; of those, 53% were retired workers and 13% were disabled workers. The remaining 34% were survivors or the spouses and children of retired or disabled workers. These awards represent not only new entrants to the benefit rolls but also persons already on the rolls who become entitled to a different benefit, particularly conversions of disabled-worker benefits to retired-worker benefits at FRA.

New awards, 2016

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

New Awards to Workers, 1976–2016

Awards to retired workers increased considerably over the past four decades, at a rate that nearly triples the rate by which awards to disabled workers increased. The annualized rate of increase over the period from 1976 to 2016 is 1.7% for retired workers and 0.6% for disabled workers. The annual number of awards to retired workers rose from 1.5 million in 1976 to 2.9 million in 2016, while for disabled workers it increased from 551,000 in 1976 to 706,000 in 2016.

New awards to retired and disabled workers

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Table equivalent for chart. New awards to retired and disabled workers (in thousands)

Year	Retired workers	Disabled workers
1976	1,475.77	551.46
1977	1,593.63	568.87
1978	1,472.79	464.42
1979	1,590.85	416.71
1980	1,612.67	396.56
1981	1,578.99	351.85
1982	1,618.41	297.13
1983	1,669.74	311.55
1984	1,607.37	362.00
1985	1,690.49	377.37
1986	1,734.25	416.87
1987	1,681.72	415.85
1988	1,654.07	409.49
1989	1,656.74	425.58
1990	1,664.75	467.98
1991	1,695.35	536.43
1992	1,707.95	636.64
1993	1,661.28	635.24
1994	1,625.35	631.87
1995	1,609.17	645.83
1996	1,581.45	624.34
1997	1,718.62	587.42
1998	1,631.51	608.13
1999	1,690.02	620.49
2000	1,960.65	621.65
2001	1,779.23	691.31
2002	1,812.55	750.00
2003	1,791.32	777.46
2004	1,883.06	795.78
2005	2,000.16	829.69
2006	1,999.02	798.68
2007	2,035.78	804.79
2008	2,279.00	877.23
2009	2,739.97	970.70
2010	2,634.44	1,026.99
2011	2,577.65	998.98
2012	2,735.01	960.21
2013	2,794.29	868.97
2014	2,771.93	778.80
2015	2,838.99	741.48
2016	2,910.75	706.45

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

Beneficiaries in Current-Payment Status, December 2016

Sixty-one million beneficiaries were in current-payment status; that is, they were being paid a benefit. Sixty-eight percent of those beneficiaries were retired workers and 14% were disabled workers. The remaining 18% of beneficiaries were survivors or the spouses and children of retired or disabled workers.

Beneficiaries, by type

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

Average Benefit Amounts, 2016

Benefits payable to workers who retire at FRA and to disabled workers are equal to 100% of the PIA (subject to any applicable deductions). At FRA, widow(er)s' benefits are also payable at 100% of the insured worker's PIA. Nondisabled widow(er)s can receive reduced benefits at age 60. Disabled widow(er)s can receive reduced benefits at age 50. Spouses, children, and parents receive a smaller proportion of the worker's PIA than do widow(er)s.

Beneficiaries, by Age, December 2016

About four-fifths of all OASDI beneficiaries in current-payment status were aged 62 or older, including 22% aged 75–84 and 9% aged 85 or older. About 14% were persons aged 18–61 receiving benefits as disabled workers, survivors, or dependents. Another 5% were children under age 18.

Beneficiaries, by age

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

Age of Disabled and Retired Workers, 1960–2016

The average age of disabled-worker beneficiaries in current-payment status declined between 1960, when DI benefits first became available to persons younger than age 50, and 2016. In 1960, the average age of a disabled worker was 57.2 years. The rapid drop in average age in the following years reflects a growing number of awards to workers under 50. By 1995, the average age fell to a low of 49.8, but by 2016, it rose to 54.2. By contrast, the average age of retired workers has changed little over time, rising from 72.4 in 1960 to 73.8 in 2016.

Average age of disabled-worker and retired-worker beneficiaries, selected years

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Table equivalent for chart. Average age of disabled-worker and retired-worker beneficiaries, selected years

Year	Retired-worker beneficiaries	Disabled-worker beneficiaries
1960	72.4	57.2
1965	72.5	54.7
1970	72.3	54.2
1975	72.3	53.8
1980	72.4	53.2
1985	72.8	52.1
1990	73.1	50.5
1995	73.6	49.8
2000	73.9	50.8
2005	73.9	51.8
2010	73.7	52.8
2015	73.7	53.9
2016	73.8	54.2

SOURCE: SSA, Master Beneficiary Record, 10 percent sample for 1990–2005 and 100 percent data for all other years.

Beneficiaries, by Sex, December 2016

Of all adults receiving monthly Social Security benefits, 45% were men and 55% were women. Eighty-one percent of the men and 66% of the women received retired-worker benefits. Thirteen percent of the women received survivor benefits.

Adult beneficiaries, by type of beneficiary and sex (in percent)

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

NOTE: Totals do not necessarily equal the sum of rounded components.

a. Less than 1 percent of men received benefits as survivors (widowers or fathers) or as spouses of retired and disabled workers.

Average Monthly Benefit, by Sex, December 2016

Among retired and disabled workers who collected benefits based on their own work records, men received a higher average monthly benefit than did women. For those with benefits based on another person's work record (spouses and survivors), women generally had higher average benefits.

Women Beneficiaries, 1940–2016

The proportion of women among retired-worker beneficiaries quadrupled between 1940 and 2016. The percentage climbed from 12% in 1940 to 47% in 1980, 48% in 1990, and 50% in 2016. The proportion of women among disabled-worker beneficiaries more than doubled between 1957, when DI benefits first became payable, and 2016. The percentage rose steadily from 19% in 1957 to 35% in 1990 and 49% in 2016.

Women as a percentage of retired-worker and disabled-worker beneficiaries, selected years

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Table equivalent for chart. Women as a percentage of retired-worker and disabled-worker beneficiaries, selected years

Year	Retired-worker beneficiaries	Disabled-worker beneficiaries
1940	11.6	--
1950	17.1	--
1957	--	19.1
1960	35.3	21.8
1970	42.4	28.4
1980	46.5	32.6
1990	47.7	34.7
2000	48.2	43.3
2010	49.0	47.0
2016	50.0	48.8
NOTE: -- = not available.

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

Women with Dual Entitlement, 1960–2016

The proportion of women aged 62 or older who are receiving benefits as dependents (that is, on the basis of their husbands' earnings record only) declined from 57% in 1960 to 21% in 2016. At the same time, the proportion of women with dual entitlement (that is, paid on the basis of both their own earnings records and those of their husbands) increased from 5% in 1960 to 25% in 2016.

Women aged 62 or older, by basis of entitlement, selected years

SOURCE: SSA, Master Beneficiary Record. All data for 2005 and dual entitlement data for 1995 and 2000 are based on a 10 percent sample. All other years are 100 percent data.

Child Beneficiaries, December 2016

More than 3.1 million children under age 18 and students aged 18–19 received OASDI benefits. Children of deceased workers had the highest average payments, in part because they are eligible to receive monthly benefits based on 75% of the worker's PIA, compared with 50% for children of retired or disabled workers. Overall, the average monthly benefit amount for children was $569.

Number of and average monthly benefit for children of worker beneficiaries

Number of children of—

Average monthly benefit for children of—

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Table equivalent for chart. Number and average monthly benefit for children receiving OASDI, by type of beneficiary, December 2016

Type of beneficiary	Number (thousands)	Average monthly benefit (dollars)
Children of retired workers	353	639
Children of disabled workers	1,544	345
Children of deceased workers	1,238	829

SOURCE: SSA, Master Beneficiary Record, 100 percent data.

SSI Program

Number of Recipients, 1974–2016

The Supplemental Security Income (SSI) program provides income support to needy persons aged 65 or older, blind or disabled adults, and blind or disabled children. Eligibility requirements and federal payment standards are nationally uniform. SSI replaced the former federal/state adult assistance programs in the 50 states and the District of Columbia.

Payments under SSI began in January 1974, with 3.2 million persons receiving federally administered payments. By December 1974, this number had risen to nearly 4 million and remained at about that level until the mid-1980s, then rose steadily, reaching nearly 6 million in 1993 and 7 million by the end of 2004. As of December 2016, the number of recipients was about 8.3 million. Of this total, 4.8 million were between the ages of 18 and 64, 2.2 million were aged 65 or older, and 1.2 million were under age 18.

Persons receiving federally administered SSI payments, December

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Table equivalent for chart. Persons receiving federally administered SSI payments, December (in millions)

Year	Total	Under 18	18–64	65 or older
1974	4.0	0.1	1.5	2.4
1975	4.3	0.1	1.7	2.5
1976	4.2	0.1	1.7	2.4
1977	4.2	0.1	1.7	2.4
1978	4.2	0.2	1.7	2.3
1979	4.1	0.2	1.7	2.2
1980	4.1	0.2	1.7	2.2
1981	4.0	0.2	1.7	2.1
1982	3.9	0.2	1.7	2.0
1983	3.9	0.2	1.7	2.0
1984	4.0	0.2	1.8	2.0
1985	4.1	0.2	1.9	2.0
1986	4.3	0.2	2.0	2.0
1987	4.4	0.3	2.1	2.0
1988	4.5	0.3	2.2	2.0
1989	4.6	0.3	2.3	2.0
1990	4.8	0.3	2.4	2.1
1991	5.1	0.4	2.6	2.1
1992	5.6	0.6	2.9	2.1
1993	6.0	0.7	3.1	2.1
1994	6.3	0.8	3.3	2.1
1995	6.5	0.9	3.5	2.1
1996	6.6	1.0	3.6	2.1
1997	6.5	0.9	3.6	2.1
1998	6.6	0.9	3.6	2.0
1999	6.6	0.8	3.7	2.0
2000	6.6	0.8	3.7	2.0
2001	6.7	0.9	3.8	2.0
2002	6.8	0.9	3.9	2.0
2003	6.9	1.0	4.0	2.0
2004	7.0	1.0	4.0	2.0
2005	7.1	1.0	4.1	2.0
2006	7.2	1.1	4.2	2.0
2007	7.4	1.1	4.2	2.0
2008	7.5	1.2	4.3	2.0
2009	7.7	1.2	4.5	2.0
2010	7.9	1.2	4.6	2.0
2011	8.1	1.3	4.8	2.1
2012	8.3	1.3	4.9	2.1
2013	8.4	1.3	4.9	2.1
2014	8.3	1.3	4.9	2.1
2015	8.3	1.3	4.9	2.2
2016	8.3	1.2	4.8	2.2

SOURCE: SSA, Supplemental Security Record, 100 percent data.

Payment Amounts, by Age, December 2016

The average monthly federally administered SSI payment was $542. Payments varied by age group, ranging from an average of $650 for recipients aged under 18 to $437 for those aged 65 or older. The maximum federal benefit rate in December 2016 was $733 for an individual and $1,100 for a couple, plus any applicable state supplementation.

Average monthly federally administered SSI payment

SOURCE: SSA, Supplemental Security Record, 100 percent data.

NOTE: Amounts exclude retroactive payments.

Federally Administered Payments, December 2016

A total of 8.3 million persons received federally administered SSI payments. The majority received federal SSI only. States have the option of supplementing the federal benefit rate and are required to do so if that rate is less than the income the recipient would have had under the former state program.

Type of SSI payment

SOURCE: SSA, Supplemental Security Record, 100 percent data.

Basis for Eligibility and Age of Recipients, December 2016

Fourteen percent of SSI recipients received benefits on the basis of age and the rest qualified on the basis of disability. Twenty-seven percent of the recipients were aged 65 or older. In the SSI program, a disabled recipient is still classified as “disabled” after reaching age 65. In the OASDI program, DI beneficiaries are converted to the retirement program when they attain FRA.

SSI recipients, by basis for eligibility and age

SOURCE: SSA, Supplemental Security Record, 100 percent data.

NOTE: Totals do not necessarily equal the sum of rounded components.

Percentage Distribution of Recipients, by Age, 1974–2016

The proportion of SSI recipients aged 65 or older declined from 61% in January 1974 to 27% in December 2016. The overall long-term growth of the SSI program occurred because of an increase in the number of disabled recipients, most of whom are under age 65.

Percentage distribution of SSI recipients, by age, December

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Table equivalent for chart. Percentage distribution of SSI recipients, by age, December

Year	Under 18	18–64	65 or older
1974	1.8	37.6	60.6
1975	2.5	39.4	58.1
1976	3.0	40.5	56.6
1977	3.5	41.0	55.5
1978	3.9	41.4	54.6
1979	4.3	41.6	54.1
1980	4.6	41.8	53.6
1981	4.8	42.4	52.8
1982	5.0	42.9	52.1
1983	5.1	43.6	51.3
1984	5.3	44.2	50.6
1985	5.5	45.4	49.1
1986	5.6	47.1	47.3
1987	5.7	48.3	46.0
1988	5.7	49.3	44.9
1989	5.8	50.1	44.1
1990	6.4	50.9	42.7
1991	7.8	51.6	40.6
1992	10.0	52.3	37.7
1993	12.1	52.6	35.3
1994	13.4	53.0	33.7
1995	14.1	53.5	32.5
1996	14.4	54.0	31.6
1997	13.5	54.8	31.6
1998	13.5	55.5	31.0
1999	12.9	56.3	30.8
2000	12.8	56.7	30.5
2001	13.2	57.0	29.8
2002	13.5	57.1	29.4
2003	13.9	57.3	28.8
2004	14.2	57.5	28.3
2005	14.6	57.4	28.0
2006	14.9	57.4	27.7
2007	15.2	57.4	27.4
2008	15.3	57.6	27.0
2009	15.6	58.0	26.4
2010	15.7	58.5	25.8
2011	15.7	58.9	25.4
2012	15.9	58.9	25.2
2013	15.8	59.0	25.2
2014	15.6	58.9	25.5
2015	15.2	58.8	25.9
2016	14.7	58.7	26.6

SOURCE: SSA, Supplemental Security Record, 100 percent data.

Recipients, by Sex and Age, December 2016

Overall, 53% of the approximately 8.3 million SSI recipients were women, but that percentage varied greatly by age group. Women accounted for 66% of the 2.2 million recipients aged 65 or older, 52% of the 4.8 million recipients aged 18–64, and 33% of the 1.2 million recipients under age 18.

SSI recipients, by sex and age

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Table equivalent for chart. Percentage distribution of SSI recipients by sex, by age, December 2016

Age	Men	Women
All ages	47	53
Under 18	67	33
18–64	48	52
65 or older	34	66

SOURCE: SSA, Supplemental Security Record, 100 percent data.

Other Income, December 2016

Almost 56% of SSI recipients aged 65 or older received OASDI benefits, as did 29.5% of those aged 18–64 and 7.0% of those under age 18. Other types of unearned income, such as income from assets, were reported most frequently among those under age 18 (21.2%) and those aged 65 or older (10.7%). Earned income was most prevalent (4.9%) among those aged 18–64.

Percentage of SSI recipients also receiving other income, by source and age

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Table equivalent for chart. Percentage of SSI recipients also receiving other income, by source and age, December 2016

Age	OASDI	Other unearned income	Earnings
All ages	33.1	10.0	3.2
Under 18	7.0	21.2	0.2
18–64	29.5	6.9	4.9
65 or older	55.6	10.7	1.3

SOURCE: SSA, Supplemental Security Record, 100 percent data.

Child Recipients, December 1974–2016

As of December of the program's first year, 1974, 70,900 blind and disabled children were receiving SSI. That number increased to about 955,000 in 1996, declined to about 847,000 in 2000, and increased to 1,213,079 in 2016. The relatively high average payment to children (compared with payments made to blind and disabled adults) is due in part to a limited amount of other countable income. The spike in average monthly benefits in 1992 is due to retroactive payments resulting from the Sullivan v. Zebley decision. As of December 2016, blind and disabled children were receiving SSI payments averaging $650.

Number of children under age 18 receiving SSI

Average monthly SSI payment to children under age 18 ^a

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Table equivalent for chart. Number of children under age 18 receiving SSI, and average monthly SSI payment to children under age 18

Year	Number of children receiving SSI (in thousands)	Average monthly SSI payment a
1974	70.90	109.15
1975	107.03	141.09
1976	125.41	154.24
1977	147.36	170.03
1978	165.90	171.72
1979	177.31	193.26
1980	190.39	219.08
1981	194.89	240.84
1982	191.57	263.22
1983	198.32	280.96
1984	211.59	292.86
1985	227.38	301.26
1986	241.20	321.34
1987	250.90	327.27
1988	255.14	343.24
1989	264.89	357.64
1990	308.59	403.72
1991	397.16	446.05
1992	556.47	610.98
1993	722.68	460.54
1994	841.47	448.07
1995	917.05	447.57
1996	955.17	442.01
1997	879.83	433.83
1998	887.07	441.75
1999	847.06	450.13
2000	846.78	463.05
2001	881.84	476.09
2002	914.82	487.73
2003	959.38	490.63
2004	993.13	505.98
2005	1,036.50	522.80
2006	1,079.00	542.00
2007	1,121.00	555.00
2008	1,153.80	561.00
2009	1,199.79	593.00
2010	1,239.30	597.00
2011	1,277.00	601.00
2012	1,311.86	621.00
2013	1,321.68	631.00
2014	1,299.76	633.23
2015	1,267.16	643.06
2016	1,213.08	649.58
SOURCE: SSA, Supplemental Security Record, 100 percent data.
NOTE: SSI = Supplemental Security Income.
a. As of 1998, these figures exclude retroactive payments.

SOURCE: SSA, Supplemental Security Record, 100 percent data.

a. As of 1998, these figures exclude retroactive payments.

Cross-Program Beneficiaries

All Beneficiaries, December 2016

About 66 million people received a payment from one or more programs administered by SSA. Most (57.8 million) received OASDI benefits only, 5.5 million received SSI only, and 2.7 million received payments from both programs.

Distribution of all beneficiaries

SOURCES: SSA, Master Beneficiary Record and Supplemental Security Record, 100 percent data.

NOTE: OASDI beneficiaries who are entitled to both a primary and a secondary benefit (dual entitlement) are counted only once. SSI includes federal SSI payments and federally administered state supplementation.

Beneficiaries Aged 65 or Older, December 2016

Benefits were paid to 45.4 million people aged 65 or older. About 1.2 million received both OASDI and SSI.

Distribution of beneficiaries aged 65 or older, by program

SOURCES: SSA, Master Beneficiary Record and Supplemental Security Record, 100 percent data.

NOTES: OASDI beneficiaries who are entitled to both a primary and a secondary benefit (dual entitlement) are counted only once. SSI includes federal SSI payments and federally administered state supplementation.

Totals do not necessarily equal the sum of rounded components.

a. Includes persons who received dependent parent's benefits or mother's and father's benefits.

b. Includes 1,027,793 SSI beneficiaries aged 65 or older who are disabled or blind.

Disabled Beneficiaries Aged 18–64, December 2016

Payments were made to nearly 13 million people aged 18–64 on the basis of their own disability. Sixty-two percent received disability payments from the OASDI program only, 28% received payments from the SSI program only, and 10% received payments from both programs.

Distribution of disabled beneficiaries aged 18–64

SOURCES: SSA, Master Beneficiary Record and Supplemental Security Record, 100 percent data.

NOTES: OASDI beneficiaries who are entitled to both a primary and a secondary benefit (dual entitlement) are counted only once. SSI includes federal SSI payments and federally administered state supplementation.

Totals do not necessarily equal the sum of rounded components.

Social Security Financing

How Social Security Is Financed

Social Security is largely a pay-as-you-go program. Most of the payroll taxes collected from today's workers are used to pay benefits to today's recipients. In 2016, the Old-Age and Survivors Insurance and Disability Insurance Trust Funds collected $957.5 billion in revenues. Of that amount, 87.3% was from payroll tax contributions and reimbursements from the General Fund of the Treasury and 3.4% was from income taxes on Social Security benefits. Interest earned on the government bonds held by the trust funds provided the remaining 9.2% of income. Assets increased in 2016 because total income exceeded expenditures for benefit payments and administrative expenses.

Sources and uses of Social Security revenues in 2016

SOURCE: 2017 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds, Table II.B1.

NOTE: Totals do not necessarily equal the sum of rounded components.

a. Includes General Fund reimbursements, which accounted for less than 0.1% of Trust Fund income.

Social Security's Demographic Challenge

The 2017 Trustees Report projects that the number of retired workers will grow rapidly, as members of the post–World War II baby boom continue to retire in increasing numbers. The number of retired workers is projected to double in about 50 years. People are also living longer, and the birth rate is low. As a result, the Trustees project that the ratio of 2.8 workers paying Social Security taxes to each person collecting benefits in 2016 will fall to 2.1 to 1 in 2036. In 2010, tax and other noninterest income did not fully cover program cost, and the 2017 Trustees Report projects that this pattern will continue for at least 75 years if no changes are made to the program. However, the Trustees also project that redemption of trust fund assets will be sufficient to allow for full payment of scheduled benefits until 2033.

Ratio of covered workers to Social Security beneficiaries

SOURCE: 2017 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds, Table IV.B3 (intermediate assumptions).

The Long-Run Financial Outlook

Social Security is not sustainable over the long term at current benefit and tax rates. In 2010, the program paid more in benefits and expenses than it collected in taxes and other noninterest income, and the 2017 Trustees Report projects this pattern to continue for the next 75 years. The Trustees estimate that the combined OASI and DI trust fund reserves will be depleted by 2034. At that point, payroll taxes and other income will flow into the fund but will be sufficient to pay only about 77% of program costs. As reported in the 2017 Trustees Report, the projected shortfall over the next 75 years is 2.83% of taxable payroll.

Social Security income minus costs as a percentage of taxable payroll

SOURCE: 2017 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds, Table IV.B1 (intermediate assumptions).