Do Social Security Statements Affect Knowledge and Behavior?

Giovanni Mastrobuoni

IB#11-6

The brief’s key findings are:

  • Social Security’s annual Statement of estimated benefits at different ages helps people plan for retirement.
  • Those receiving it are more likely to provide an estimate of their benefits, and their estimates tend to be more accurate.
  • The Statement does not appear to change retirement behavior; further research is needed to determine why.