General Information

Income of the Aged Population

OASDI Program

Earnings in Covered Employment, 1937–2021

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 179 million workers with earnings in Social Security–covered employment in 2021, 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 81% of earnings in covered employment were taxable in 2021, compared with 92% in 1937.

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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	82.9	6.2
2021	81.4	6.2

Insured Status, 1970–2021

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 2021

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 2021, with 91% fully insured and 80% insured for disability in 2021. By contrast, the proportion of women who are insured increased dramatically—from 63% to 88% fully insured and from 41% to 76% insured for disability.

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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	2021
Fully insured
Men	93	91
Women	63	88
Insured for disability a
Men	84	80
Women	41	76

New Benefit Awards, 2021

Benefits were awarded to about 5.4 million persons; of those, 59% were retired workers and 10% were disabled workers. The remaining 31% 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 to Workers, 1981–2021

Awards to retired workers increased considerably over the past four decades, at a higher rate than that by which awards to disabled workers increased. The annualized rate of increase over the period from 1981 to 2021 is 1.8% for retired workers and 1.1% for disabled workers. The annual number of awards to retired workers rose from 1.6 million in 1981 to 3.2 million in 2021, while for disabled workers it increased from 352,000 in 1981 to 540,000 in 2021.

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

Year	Retired workers	Disabled workers
1981	1.579	0.352
1982	1.618	0.297
1983	1.670	0.312
1984	1.607	0.362
1985	1.690	0.377
1986	1.734	0.417
1987	1.682	0.416
1988	1.654	0.409
1989	1.657	0.426
1990	1.665	0.468
1991	1.695	0.536
1992	1.708	0.637
1993	1.661	0.635
1994	1.625	0.632
1995	1.609	0.646
1996	1.581	0.624
1997	1.719	0.587
1998	1.632	0.608
1999	1.690	0.620
2000	1.961	0.622
2001	1.779	0.691
2002	1.813	0.750
2003	1.791	0.777
2004	1.883	0.796
2005	2.000	0.830
2006	1.999	0.799
2007	2.036	0.805
2008	2.279	0.877
2009	2.740	0.971
2010	2.634	1.027
2011	2.578	0.999
2012	2.735	0.960
2013	2.794	0.869
2014	2.772	0.779
2015	2.839	0.741
2016	2.911	0.706
2017	2.975	0.716
2018	3.082	0.687
2019	3.175	0.679
2020	3.368	0.620
2021	3.186	0.540

Beneficiaries in Current-Payment Status, December 2021

Sixty-five million beneficiaries were in current-payment status; that is, they were being paid a benefit. Seventy-three percent of those beneficiaries were retired workers and 12% were disabled workers. The remaining 15% of beneficiaries were survivors or the spouses and children of retired or disabled workers.

Average Benefit Amounts, 2021

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 2021

More than four-fifths of all OASDI beneficiaries in current-payment status were aged 62 or older, including 25% aged 75–84 and 9% aged 85 or older. About 11% were persons aged 18–61 receiving benefits as disabled workers, survivors, or dependents. Another 4% were children under age 18.

Age of Disabled and Retired Workers, 1960–2021

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 2021. 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 2021, it rose to 55.3. By contrast, the average age of retired workers has changed little over time, rising from 72.4 in 1960 to 74.1 in 2021.

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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
2020	74.0	55.0
2021	74.1	55.3

Beneficiaries, by Sex, December 2021

Of all adults receiving monthly Social Security benefits, 45% were men and 55% were women. Eighty-four percent of the men and 71% of the women received retired-worker benefits. Eleven percent of the women received survivor benefits.

Average Monthly Benefit, by Sex, December 2021

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, 1940–2021

The proportion of women among retired-worker beneficiaries quadrupled between 1940 and 2021. The percentage climbed from 12% in 1940 to 47% in 1980, 48% in 1990, and 51% in 2021. The proportion of women among disabled-worker beneficiaries more than doubled between 1957, when DI benefits first became payable, and 2021. The percentage rose steadily from 19% in 1957 to 35% in 1990 and 50% in 2021.

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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
2020	50.6	49.7
2021	50.8	49.8
NOTE: -- = not available.

Women with Dual Entitlement, 1960–2021

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 18% in 2021. 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 24% in 2021.

Child Beneficiaries, December 2021

About 2.8 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 $713.

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Table equivalent for chart. Number and average monthly benefit for children receiving OASDI, by type of beneficiary, December 2021

Type of beneficiary	Number (thousands)	Average monthly benefit (dollars)
Children of retired workers	343	753
Children of disabled workers	1,130	415
Children of deceased workers	1,293	962

SSI Program

Number of Recipients, 1974–2021

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 2021, the number of recipients was about 7.7 million. Of this total, more than 4.4 million were between the ages of 18 and 64, 2.3 million were aged 65 or older, and 1.0 million were under age 18.

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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	4.00	0.07	1.50	2.42
1975	4.31	0.11	1.70	2.51
1976	4.24	0.13	1.71	2.40
1977	4.24	0.15	1.74	2.35
1978	4.22	0.17	1.75	2.30
1979	4.15	0.18	1.73	2.25
1980	4.14	0.19	1.73	2.22
1981	4.02	0.19	1.70	2.12
1982	3.86	0.19	1.66	2.01
1983	3.90	0.20	1.70	2.00
1984	4.03	0.21	1.78	2.04
1985	4.14	0.23	1.88	2.03
1986	4.27	0.24	2.01	2.02
1987	4.39	0.25	2.12	2.02
1988	4.46	0.26	2.20	2.01
1989	4.59	0.26	2.30	2.03
1990	4.82	0.31	2.45	2.06
1991	5.12	0.40	2.64	2.08
1992	5.57	0.56	2.91	2.10
1993	5.98	0.72	3.15	2.11
1994	6.30	0.84	3.34	2.12
1995	6.51	0.92	3.48	2.11
1996	6.61	0.96	3.57	2.09
1997	6.49	0.88	3.56	2.05
1998	6.57	0.89	3.65	2.03
1999	6.56	0.85	3.69	2.02
2000	6.60	0.85	3.74	2.01
2001	6.69	0.88	3.81	2.00
2002	6.79	0.91	3.88	2.00
2003	6.90	0.96	3.95	1.99
2004	6.99	0.99	4.02	1.98
2005	7.11	1.04	4.08	1.99
2006	7.24	1.08	4.15	2.00
2007	7.36	1.12	4.22	2.02
2008	7.52	1.15	4.33	2.03
2009	7.68	1.20	4.45	2.03
2010	7.91	1.24	4.63	2.04
2011	8.11	1.28	4.78	2.06
2012	8.26	1.31	4.87	2.08
2013	8.36	1.32	4.93	2.11
2014	8.34	1.30	4.91	2.12
2015	8.31	1.27	4.89	2.15
2016	8.25	1.21	4.85	2.19
2017	8.23	1.18	4.81	2.24
2018	8.13	1.15	4.71	2.27
2019	8.08	1.13	4.65	2.30
2020	7.96	1.11	4.56	2.30
2021	7.70	1.04	4.36	2.29

Payment Amounts, by Age, December 2021

The average monthly federally administered SSI payment was $584. Payments varied by age group, ranging from an average of $687 for recipients aged under 18 to $475 for those aged 65 or older. The maximum federal benefit rate in December 2021 was $841 for an individual and $1,261 for a couple, plus any applicable state supplementation.

Federally Administered Payments, December 2021

A total of 7.7 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.

Basis for Eligibility and Age of Recipients, December 2021

Fourteen percent of SSI recipients received benefits on the basis of age and the rest qualified on the basis of disability. Thirty 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.

Percentage Distribution of Recipients, by Age, 1974–2021

The proportion of SSI recipients aged 65 or older declined from 61% in January 1974 to 30% in December 2021. 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.

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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
2017	14.4	58.4	27.2
2018	14.1	58.0	27.9
2019	14.0	57.5	28.5
2020	13.9	57.2	28.8
2021	13.5	56.7	29.8

Recipients, by Sex and Age, December 2021

Overall, 52% of the approximately 7.7 million SSI recipients were women, but that percentage varied greatly by age group. Women accounted for 65% of the 2.3 million recipients aged 65 or older, 50% of the more than 4.4 million recipients aged 18–64, and 32% of the 1.0 million recipients under age 18.

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Table equivalent for chart. Percentage distribution of SSI recipients by sex, by age, December 2021

Age	Men	Women
All ages	48	52
Under 18	68	32
18–64	50	50
65 or older	35	65

Other Income, December 2021

Almost 57% of SSI recipients aged 65 or older received OASDI benefits, as did 27.7% of those aged 18–64 and 6.2% of those under age 18. Other types of unearned income, such as income from assets, were reported most frequently among those under age 18 (21.6%) and those aged 65 or older (10.0%). Earned income was most prevalent (4.1%) among those aged 18–64.

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Table equivalent for chart. Percentage of SSI recipients also receiving other income, by source and age, December 2021

Age	OASDI	Other unearned income	Earnings
All ages	33.5	10.0	2.7
Under 18	6.2	21.6	0.2
18–64	27.7	7.2	4.1
65 or older	56.9	10.0	1.0

Child Recipients, December 1974–2021

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 1,038,149 in 2021. 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 2021, blind and disabled children were receiving SSI payments averaging $687.

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

Year	Number (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
2017	1,182.59	647.48
2018	1,148.04	655.49
2019	1,132.08	669.78
2020	1,108.61	675.47
2021	1,038.15	687.17

Cross-Program Beneficiaries

All Beneficiaries, December 2021

About 70 million people received a payment from one or more programs administered by SSA. Most (62.3 million) received OASDI benefits only, 5.1 million received SSI only, and 2.6 million received payments from both programs.

Beneficiaries Aged 65 or Older, December 2021

Benefits were paid to 51.7 million people aged 65 or older. About 1.3 million received both OASDI and SSI.

Disabled Beneficiaries Aged 18–64, December 2021

Payments were made to nearly 11.5 million people aged 18–64 on the basis of their own disability. Sixty-two percent received disability payments from the OASDI program only, 29% received payments from the SSI program only, and 9% received payments from both programs.

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 2021, the Old-Age and Survivors Insurance and Disability Insurance Trust Funds collected $1.09 trillion in revenues. Of that amount, 90.1% was from payroll tax contributions and reimbursements from the General Fund of the Treasury and 3.5% was from income taxes on Social Security benefits. Interest earned on the government bonds held by the trust funds provided the remaining 6.4% of income. Assets decreased in 2021 because expenditures for benefit payments and administrative expenses exceeded total income.

Social Security's Demographic Challenge

The 2022 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 2021 will fall to 2.3 to 1 in 2038. In 2010, tax and other noninterest income did not fully cover program cost, and the 2022 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 2035.

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 2022 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 2035. At that point, payroll taxes and other income will flow into the fund but will be sufficient to pay only about 80% of program costs. As reported in the 2022 Trustees Report, the projected shortfall over the next 75 years is 3.42% of taxable payroll.