New Poll: Seniors Support Social Security Privatization

May 21, 2001

A new poll conducted by McLaughlin & Associates for the United Seniors Association showed overwhelming support for Social Security privatization among senior citizens. Seniors were asked:

• If your current Social Security benefits were guaranteed not to be cut, would you approve or disapprove of allowing workers under 55 the option of placing a portion of their Social Security payroll taxes in a personal retirement account like an IRA or 401K where the individual owns and controls his or her account?
• Approve – 63%
• Disapprove – 24%
• Don't Know/Refused – 12%
• How important do you think personal retirement accounts are to give your children and grandchildren a better, more secure retirement with a higher return on their retirement investments?
• Important – 82%
• Very Important – 57%
• Somewhat Important – 26%
• Not Important – 8%
• Don't Know/Refused – 10%
• Would you be more likely or less likely to support personal retirement accounts for workers under the age of 55, if Congress guaranteed your Social Security benefits and also allocated $1 trillion in general revenue funds to shore up Social Security and help create personal retirement accounts?
• More Likely – 57%
• Less Likely – 14%
• No Difference – 15%
• Don't Know/Refused – 14%

Appearing on the MSNBC show 'Hardball' with Chris Matthews, Charles Jarvis, President and CEO of the United Seniors Association, put his organization strongly behind the idea of Social Security privatization, saying "It is imperative that the [president's Social Security commission] recommendation offer a better deal for seniors, as well as younger workers. We must preserve Social Security benefits for all current retirees and those nearing retirement. And younger workers must be allowed to create a retirement nest egg that they will own and be able to pass on as a family asset."

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