Employees Need Education About Social Security’s Part in Retirement Income

Annua > News > Industry > 2019-Industry > Employees Need Education About Social Security’s Part in Retirement Income

Seventy percent of employees surveyed by the Nationwide Retirement Institute think they are eligible for full Social Security benefits before they actually are.

By Lee Barney

Pre-retirees, those within 10 years of retiring, expect they will receive $1,805 a month in Social Security benefits, but retirees actually collect an average of $1,408, a 28% difference, according to the sixth annual survey by the Nationwide Retirement Institute. Twenty-six percent believe they can live comfortably on Social Security alone, and 44% say that it will be their main source of retirement income.

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