Major source of income for retirees The major source of income for retirees is:

Question

Quizplus · Accepted Answer

Social Security is the most common and significant source of income for retirees. According to a survey conducted by the Social Security Administration in 2018, Social Security payments accounted for 90% or more of the income for one-third of elderly beneficiaries, and 50% or more for nearly two-thirds of them. While pensions and asset income can also play a role in retirement income, they are not as common as Social Security payments. Welfare is not typically a significant source of income for retirees, as many welfare programs have age restrictions and eligibility requirements based on income and assets.

Major Source of Income for Retirees the Major Source of Income