Unlike most public opinion research on Social Security, which asks about each policy option individually, the survey features a unique trade-off analysis that captures the full picture of Americans’ views on how lawmakers should address the program’s long-term financing gap.
The report finds:
Americans are united in support of Social Security. Across party lines, generations, income, and education, Americans value Social Security and see it as the cornerstone of retirement security. Just four percent of Americans say it will not be important to their income in retirement.
Rather than closing Social Security’s financing gap through benefit reductions, Americans strongly prefer bringing more revenue into the system. Eighty-five percent say we should ensure benefits are not reduced, even if it means raising taxes on some or all Americans. The most strongly preferred of all options tested is eliminating the cap on payroll tax contributions for those earning more than $400,000 per year. Additionally, Americans across all groups, including a majority of Republicans, say they are willing to pay more themselves by gradually increasing the payroll tax rate to strengthen the program’s finances.
Americans are broadly opposed to benefit reductions. Given a broad set of options to address Social Security’s financing gap, respondents reject benefit reductions such as further increases to the retirement age or switching to a slower cost-of-living adjustment.
Americans want to strengthen Social Security benefits. They support several targeted improvements including adding a caregiver credit for workers who take time out of the workforce to care for young children and a “bridge benefit” to protect from the early claiming reduction of those in physically demanding jobs who may be unable to continue working up to full retirement age.
Americans need and value Social Security’s disability benefits. Ninety percent of Americans say that they will need Social Security’s disability benefits if they become disabled and unable to support themselves through work, and only four percent support cutting disability benefits. The survey also finds strong bipartisan support for updating outdated rules in Supplemental Security Income, including its $2,000 asset limit.
Retirement Insecurity 2026: Americans’ Views of Retirement
New national research from the National Institute on Retirement Security finds that 80 percent of Americans say the nation faces a retirement crisis as rising costs and debt make it increasingly difficult to save. The report, Retirement Insecurity 2026: Americans’ Views of Retirement, also finds widespread concern about financial security in retirement, strong support for pensions, and growing caution about the role of artificial intelligence and cryptocurrency in retirement planning.
