Confidence in Social Security falling

Published: Feb. 6, 2009 at 11:40 AM

WASHINGTON, Feb. 6 (UPI) -- A recent survey said 10 percent of those with long-term retirement investments have withdrawn funds from their accounts.

Ninety percent have left accounts such as IRAs, 401(k)s and annuities untouched, data collected by Sun Life Financial show, Insurance and Financial Adviser reported Friday.

The survey shows that confidence in Social Security and Medicare is waning, the report said. Sixty-six percent of workers ages 40-49 indicated a lack of confidence in the Social Security system, a figure that grew to 70 percent among workers in their 30s, the report said.

© 2009 United Press International, Inc. All Rights Reserved.
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