- Almost three-fourths (74%) of Hispanic beneficiaries rely on Social Security for at least half their income compared to almost two-thirds (64%) of all beneficiaries.
- Approximately 53% of Hispanic beneficiaries rely on Social Security for 90% or more of their income.
- Approximately 46% of Hispanic beneficiaries rely on Social Security for all of their income.
Minorities rely more heavily on Social Security due to a lack of other income in retirement. Few elderly minorities receive income from pensions and assets. The greatest disparity is in the receipt of income from assets.
- In 2012, 25% of Hispanics received income from private assets, compared with more than 55% of whites
- In 2012, 13% of Hispanics 65 years old and over reported receiving income from private pensions or annuities, compared to 28% of whites 65 years old and older
Elderly Hispanics are more dependent on Social Security than others because they are more likely to be in poverty than non-Hispanic elderly.