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New Study Cites Social Security Insolvency Concerns - PlanGap
Eight out of ten participants in a post-2026 Social Security Trustees Report survey reported being frustrated, angry, scared, or nervous in the face of potential future benefit cuts. The survey of over 1,000 U.S. adults ages 45 and older, conducted by financial product innovation company PlanGap, revealed that “69% of respondents said they are not confident the government will solve Social Security’s funding challenge without reducing benefits, while 68% said they are concerned ‘a great deal’ or ‘a lot’ that they may not receive their full benefits as promised.”
The pessimism reflected in the survey results are likely attributable to “policy risk - the risk that a benefit, program or promise they built their retirement around changes after they have already made their plans,” explained PlanGap’s founder and CEO David Duley. Read his broad assessment of the survey findings here…
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