(RightIsRight.co) – Hope for a brighter future and faith in the system that seemed lost a long time ago is seemingly rising among US citizens as a Gallup poll reveals a significant shift in Americans’ perceptions regarding Social Security benefits.
The survey indicates an increasing sense of optimism among retirees and non-retirees about the availability of these benefits in the future.
The poll shows that 50 percent of non-retirees now expect to receive Social Security benefits upon retirement, a slight edge over the 47 percent who are less hopeful.
This marks a notable change from the period between 2005 and 2015, when a majority of non-retirees expressed doubts about receiving any benefits from the system.
Among current retirees, 53 percent are confident they will continue to receive full benefits, a significant increase from 37 percent in 2019 and 49 percent in 2015. However, 43 percent of retirees remain concerned that their benefits might be reduced in the future.
The poll also highlights a generational divide in confidence levels. Older workers, particularly those aged 50 and above, show higher confidence, with 66 percent expecting to receive benefits.
In contrast, Millennials tend to be less optimistic than members of Generation Z about the likelihood of receiving Social Security benefits.
Looking ahead, the Social Security system is projected to be able to pay out 80 percent of benefits to recipients by 2034. This projection plays a crucial role in shaping public sentiment about the system’s sustainability.
During his State of the Union address, Joe Biden addressed the Social Security system, garnering support from both Republicans and Democrats to shield it from cuts in federal budget negotiations. This bipartisan support could be influencing public optimism about the system’s future.
The survey, conducted between June and July, involved 1,344 non-retirees and 684 retirees.
With a margin of error of three percentage points, the results of this poll suggest a growing belief among Americans that Social Security will be a reliable source of income in their retirement years, despite longstanding concerns about the system’s long-term viability.