Poll: More workers see Social Security as critical

April 30, 2012 at 3:16 PM   |   Comments

PRINCETON, N.J., April 30 (UPI) -- A third of U.S. workers indicated in a recent poll that Social Security would be a major portion of their post-retirement funding, Gallup researchers said.

Researchers said the poll, conducted April 9-12 involving 1,016 adults, found that 33 percent of respondents indicated they expected Social Security would be a critical source of funding after they retired.

In 2007, just 27 percent of respondents to the same question said they expected Social Security to be a major funding source after they stopped working.

Retirees and people still still working had different views of retirement funding.

Thirty-three percent of retirees indicated pension plans were a major source of their income, followed by 401(k) plans (24 percent), home equity (23 percent) and stocks and mutual funds (15 percent).

Current workers -- or non-retirees -- indicated the following would be their major funding source: Social Security (33 percent), pension plans (28 percent) savings accounts or CDs (22 percent) and part-time work (22 percent).

Thirty-eight percent of current workers expect to retire comfortably, a new low, Gallup said.

The survey results carry a margin of error of plus and minus 4 percentage points, Gallup said.

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