Social Security Recipient Information
Social Security is a federal program that assists Americans with income. Not everyone can claim Social Security benefits, as the government provides guidelines as to when a person qualifies for benefits. Even with restrictions, however, the program remains one of the largest American assistance funds and aids millions of people every year. Basic information about the program and recipients helps you determine your own eligibility.
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Qualified Recipients
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Under Social Security, there are three primary recipients. These include retirees, the disabled and survivors/spouses. You also may receive Social Security if you are disabled and have a low income, or need help with medical coverage -- these are the Supplemental Security Income (SSI) and Medicare sections of the program. Although the majority of recipients are in their 60s and older, young adults and children also sometimes qualify for benefits.
Multiple Benefits
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Recipients sometimes qualify for more than one section of the Social Security program. For example, you may be a retiree over age 65 who also is disabled. Depending on your income, you could receive general retirement benefits, disability (Supplemental Security Income) and Medicare. However, this is the exception rather than the rule. You should check with your local Social Security office if you aren't sure what benefits you could get.
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Benefit Majority
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By far, most recipients of Social Security are retirees. Roughly 70 percent of those receiving Social Security are claiming retirement benefits based on September 2010 data, according to the Social Security Administration. This reflects the primary purpose of the program, which is to assist the elderly and those who have contributed to society via work. The next largest recipient group is the disabled. Spouses and children claim the smallest percentage of benefits.
Average Benefit
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Depending on what sections of Social Security for which you qualify and your age, you may draw anywhere from about $290 to $1,170 per month. The average monthly benefit recipients can expect according to the Social Security Administration is $1,072.20, based on September 2010 data.
Insufficiency of Benefits
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For many people who receive Social Security, the benefits garnered do not cover all expenses related to living. This is especially true if you opt to take early retirement, because the amount of retirement benefits decreases the earlier you apply. For this reason, recipients should see Social Security as a supplement to other funds such as pensions or 401k plans.
Concerns
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As of 2010, people are working longer than in the past. More people are claiming Social Security than before, as well. This is in part because life expectancy has increased. At the same time, deficits in the federal budget have led to proposals to decrease Social Security expenditures -- one proposed option is to raise the minimum retirement age. It is not clear what Social Security benefits -- if any -- future generations of Americans will have.
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