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Retirement Planning > Social Security

Workers would opt out of Social Security

By Staff Writer

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39% of workers 50 and older would rather not contribute to Social Security even if they couldn’t take advantage of the benefits once they are eligible.

33% of workers over the age of 60 said they would stop paying Social Security taxes even if it meant they would not receive any benefits.

52% of Americans making over $125,000 a year would choose to stop paying Social Security taxes and not receive the benefit.

48% of those making between $25,000 and $50,000 a year said they would stop paying Social Security taxes and not receive the benefit.

54% of American workers don’t think Social Security will be available to them when they are 67.

Source: Sun Life Financial

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