Social Security is a critical income source for elderly and disabled Asian and Pacific Islander Americans. The existing Social Security system is the best way to guarantee a measure of financial security to disabled and elderly Asian and Pacific Islander American workers and their families, a new report said.
The report, released by the Insight Center for Community Economic Development, shows that Social Security keeps 19 percent of older Asian and Pacific Islander Americans out of poverty. Out of those Asian and Pacific Islander Americans receiving the program’s disability insurance, 56.2 percent relied on it for more than 75 percent of their income.
Among Asian and Pacific Islander Americans age 65 and older receiving Social Security income, 29 percent of married couples and 60 percent of unmarried persons relied on it for more than 90 percent of their income.
The Insight Center’s primer, commissioned by the AARP, is intended as a starting point to fill the gap in research on how Asian and Pacific Islander American workers use Social Security — research that will become increasingly important in the future.
“Because this population is projected to almost double again by 2050, rising to 9 percent of all Americans, more research is needed to ensure that their needs are met as reform of the Social Security program is considered,” said the Insight Center’s Meizhu Lui, who wrote the primer. ♦
For more information, visit www.insightcced.org.