2 Between 2000 and 2010, the population 65 years and over increased at a faster rate ( 15.1 percent ) than the total U.S population (9.7 percent).
Social Security’s Effect on Poverty Using the Supplemental Poverty Measure
|Effect of Social Security on Poverty (Supplemental Poverty Measure), 2018|
|Percent in Poverty|
|Adults Ages 18-64||16.2%||12.2%|
|Elderly Age 65 and Over||47.5%||13.6%|
|Total, All Ages||21.2%||12.8%|
In 2011 , 13.7 percent of people 18 to 64 (26.5 million) were in poverty compared with 8.7 percent of people 65 and older (3.6 million) and 21.9 percent of children under 18 (16.1 million).
Living to 85 + By 2050, the 85 + age group will reach 19 million—24 percent of older adults and five percent of the total population . Some researchers say the 85 + group will grow even faster than this, because death rates at older ages will decline more rapidly than the U.S. Census Bureau predicts.
In 1900, 75 percent of the people in the United States died before they reached age 65. Today, this is almost reversed: about 70 percent of people die after age 65.
Average income support by age group in 2000 and 2014 ($ per week) These two reasons combined account for over 75% of the decrease in poverty incidence . Increased private pensions account for a further large part of the decrease (nearly 41%), while changes in investment income would have increased the poverty rate .
Social Security and Medicare: have succeeded in reducing the incidence of poverty among the elderly . Over the last forty years, poverty in the United States, as measured by the number of poor , has increased the most : among households headed by women.
|Table 1. Median annual income of the population, age 65 and older|
Among the most “reliable” resources were pension plans, though as of 1932 only 15 percent of American companies offered employees such an option. State pensions were available for the lucky few government workers; by 1935 about 3 percent of elderly Americans were receiving those benefits.
Data on the poverty threshold is created by the US Census Bureau, which uses pre-tax income as a yardstick to measure poverty. The statistical report on the poverty threshold is then used by the HHS to determine the federal poverty level (FPL).
In 2019, the poverty rate in the United States was highest among people between the ages of 18 and 24 years old , with a rate of 17.1 percent for male Americans and a rate of 21.35 percent for female Americans. The lowest poverty rate for both genders was found in individuals between the ages of 65 and 74 years old.
The poverty rate among Americans aged 65 and older has declined by almost 70% in the past five decades. In 2017, the 9.2% poverty rate among Americans aged 65 and older was lower than the 11.2% poverty rate among adults aged 18 to 64 and the 17.5% poverty rate among children under 18 years old.
2011 Poverty Guidelines, Federal Register Notice
|Persons in family||Poverty guideline|