How Do Disabilities Affect Future Retirement Benefits?
Contributing Organization(s): Urban Institute
Author(s)/Creator(s): Richard W. Johnson; Gordon Mermin
Publishing Date: 2008-10-01
Issue Areas: Disability Issues; Employment and Labor; Aging
Ownership/Rights Info: Copyright October 2008 The Urban Institute. Please consult the copyright holder before using or repurposing this information.
File info: 2 pages; 56.55 KB file size
One-quarter of workers ages 51 to 55 develop work disabilities before age 62. Disabilities often force people to curtail their work hours, derailing retirement preparations. However, protections built into Social Security, including disability and spouse benefits and the system's tilt toward workers with low lifetime earnings, cushion the impact of midlife health problems. After other factors are controlled for, the onset of health-related work limitations between ages 51 and 61 reduces Social Security retirement benefits at ages 63 to 67 by only about 2 percent, much less than the impact on other retirement savings.
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Intended Audience: Advocates; General Public; Policy Professionals; Researchers
Type/Format: FactSheet
Language code: English
Type/Format: FactSheet
Language code: English
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