Social Security accounted for an average of 40% of income for Americans aged 65 and older in 2008, the most recent year for which data are available, according to the Employee Benefit Research Institute. 
About a quarter of their income (26%) is from earnings, 20% from pensions and annuities, and 13% from assets.
Older Americans’ dependency on Social Security varied by income level, with those in the lowest earning quintile (with an annual income less than $8,956) relying most heavily on it, and those in the highest quintile (with an annual income of more than $38,468) relying on it the least. Social Security accounts for a larger portion of older women’s income (48%) than older men’s income (34%). [Finance, Mature Market]
Source: “EBRI Notes,” Employee Benefit Research Institute, 1100 13th St. NW, #878, Washington, DC 20005; 202-659-0670; info@ebri.org. Price: Call for information.
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