You are here: Social Security Administration > Research, Statistics & Policy Analysis > Demographic Projection: Beneficiaries Aged 60+ by Race & Ethnicity

Projections by Demographic Group

  1. Beneficiary
    Race/Ethnicity
  2. Lifetime
    Low Earners
  3.  Oldest 
    Old
  4. Sporadic Low
    Earners
  5. Taxpayer
    Race/Ethnicity

Beneficiaries Aged 60+ by Race & Ethnicity

Methodology »
Released: May 2024
Next expected update: 2028

DEFINITION: Beneficiaries are all individuals receiving any type of Social Security benefit(s) under current law.

In 2050, we project that:

  • The shares of beneficiaries identifying as Hispanic/Latino or all other races a will be larger than in 2024.
  • Beneficiaries identifying as Black or Hispanic/Latino will have lower median levels of monthly benefits and household wealth, and higher poverty rates, than those identifying as White or all other races.
Chart. Title: Racial and Ethnic Identification, 2024–2070: Percentage of beneficiaries aged 60 or older. Stacked bar chart with tabular version below.
Show as table
Table equivalent for chart: Racial and Ethnic Identification, 2024–2070 (percentage of beneficiaries aged 60 or older)
Year Hispanic or Latino, any race Non-Hispanic
White Black All other races
2024 9 76 10 5
2030 11 73 10 6
2050 18 63 11 8
2070 23 57 10 10
Chart. Title: Highest Education Level Attained, 2050: Percentage of beneficiaries aged 60 or older. Stacked bar chart with tabular version below.
Show as table
Table equivalent for chart: Highest Education Level Attained, 2050 (percentage of beneficiaries aged 60 or older)
Race or ethnicity Less than high school High school Associate's Bachelor's Graduate
All 9 32 23 22 14
Hispanic or Latino 30 39 16 9 5
Black 6 41 25 18 10
White 4 30 25 26 16
All other races 4 22 18 32 25
Chart. Title: Selected Household Income Sources, 2050: Percentage of household income. Stacked bar chart with tabular version below.
Show as table
Table equivalent for chart: Selected Household Income Sources, 2050 (percentage of household income)
Race or ethnicity Social Security Annuitized assets Earnings Co-resident income Pension
All 48 26 13 6 6
Hispanic or Latino 53 16 12 12 4
Black 55 16 11 9 6
White 45 30 13 4 6
All other races 43 28 14 9 5
Chart. Title: Monthly Benefit, 2050. Bar chart with tabular version below.
Show as table
Table equivalent for chart: Monthly Benefit, 2050
Race or ethnicity Median, in 2024 dollars
All 2,211
Hispanic or Latino 1,755
Black 1,981
White 2,393
All other races 2,309
Chart. Title: Poverty Rate, 2050. Bar chart with tabular version below.
Show as table
Table equivalent for chart: Poverty Rate, 2050
Race or ethnicity Percent below 100% of poverty
All 5
Hispanic or Latino 7
Black 7
White 3
All other races 5
Chart. Title: Household Wealth, 2050. Bar chart with tabular version below.
Show as table
Table equivalent for chart: Household Wealth, 2050
Race or ethnicity Median, in thousands of 2024 dollars
All 303
Hispanic or Latino 120
Black 110
White 443
All other races 433

SOURCE: Modeling Income in the Near Term, Version 8 (MINT8) microsimulation model using 2023 Trustees Report intermediate assumptions.

NOTES: Content is simplified for presentation. Refer to the MINT8 Projection Methodology for model details or the Table User Guide for definitions of racial or ethnic identifications, education levels, household income, and poverty.

The Black, White, and all other races subgroups are non-Hispanic.

a. Includes anyone identifying as a race or ethnicity other than Black, White, or Hispanic or Latino.