While Social Security is facing funding challenges in the coming years, more retirees said in a recent survey that they need the payments compared with 10 or 15 years ago, according to AARP.
The survey found that about 65 percent of retired Americans say “they rely substantially on Social Security,” compared with 21 percent who say “they rely on it somewhat.”
That’s up 2 percentage points from 2020, when 63 percent of retired Americans indicated they rely substantially on monthly Social Security payments. In 2010 and 2015, 58 percent of Americans said the same, according to AARP, an interest group that was formerly called the American Association of Retired Persons….