Despite questions about the long-term stability of Social Security, U.S. workers seem to be counting more on using the program to fund retirement.
The Simsbury, Conn., life unit at Hartford Financial Services Group Inc. (NYSE:HIG) has published data on that trend in a summary of results from a recent survey of 750 U.S. residents ages 45 and older.
Hartford also commissioned a similar survey in 2006.
The percentage of participants who said Social Security would be their most important source of retirement income increased to 39%, from 27% in 2006.
Meanwhile, the percentage who said Social Security alone will not provide enough income to maintain their current standard of living increased to 85%, from 81%.
The percent who said they are less confident about having enough retirement income has increased to 79%, from 69%.