5 Things Most Americans Don’t Know About Social Security
So you think you know all you need to know about Social Security? If so, congratulations — you are in the minority when it comes to knowledge of the nation’s biggest retirement benefits program
Eligibility age: Two in five (39%) of respondents don’t know the eligible age to receive full benefits
1
Payments: Just more than half of those not already receiving Social Security (51%) don’t have a clear sense of how much they will get in Social Security income
2
Spousal/child benefits: 30% don’t know that Social Security may offer benefits for spouses and children
3
Inflation protection: More than a third (37%) incorrectly believe that Social Security benefits are not protected against inflation
4
No adjustments: 45% mistakenly believe that if they claim benefits early, their benefits will go up automatically when reaching full retirement age, or they don’t know this is false.