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elderly woman's hands holding coins dumped from purse (Photo: Shutterstock)

Politicians hindering efforts to support Social Security had better hope they never get cornered by those who rely on those checks for their only income—because that amounts to 40.2 percent of seniors.

So says a report from the National Institute on Retirement Security, “Examining the Nest Egg: The Sources of Retirement Income for Older America,” which points out that although in 2013 pensions did keep nearly a million retirees out of poverty while cutting the cost of public assistance by $4 billion, Social Security did far more—it kept more than 7.5 million households out of poverty and cut public assistance costs by $10 billion the same year.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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