Jump to Navigation
Jump to Content

Why Pensions Are Important

This fact sheet explains the role pensions play in the overall retirement security of American workers, retirees, and their families.

Pensions are Important to Retirement Security

Social Security provides only a safety net.
Average yearly Social Security payment:
Annual minimum-wage salary:
Average portion of pay Social Security replaces:
 
Most retirees have little in personal savings.
Median total savings of older households:
Median income from savings of older Americans:
 
MEDIAN INCOME OF OLDER AMERICANS:
 
Retirees with pensions have greater income security.
Median yearly income of retirees with pensions:
Percentage of older Americans with a pension:
 
PENSIONS ARE IMPORTANT TO THE ECONOMY
Pensions are the world’s largest source of capital:
The cost of pensions in tax subsidies:

Click on the numbers to read about the sources for these statistics, and to see other figures.

Read How Much is Saved in 401(k)s

Annual Contribution and Benefit Limits for Retirement Plans

print