GO
Loading...

CNBC Poll: Should Social Security Be Privatized?

Tuesday, 1 May 2012 | 10:59 AM ET
Retirement - A CNBC Special Report
Retirement - A CNBC Special Report

The Social Security benefits program will run out of money three years earlier than previously thought, with the fund for retirees likely to become insolvent in 2033, according tothe Social Security Administration's Trustees 2012 annual report.

Though Social Security benefits have long been a successful federal safety net for millions of Americans, some lawmakers and policy analysts believe the only way to save it from inevitable bankruptcy is to privatize the system.

Supporters of private accounts believe that in having more control over their investment choices, retirees would be able to achieve a higher rate of return than what the trust earns on Treasuries.

Critics of privatizing the trust argue that investing is complicated and risky, and individuals could lose their retirement safety net through bad decisions.

Tell us what you think.

Vote
Vote to see results
Total Votes:

Not a Scientific Survey. Results may not total 100% due to rounding.

Featured

Latest Special Reports

  • The day you stop working will be here before you know it, making preparation now key to enjoying your golden years.

  • Is an active twist on passive investing the right portfolio move? An inside look at the rise of ETF strategists.

  • Simplifying news on the clock.

Retirement

  • Saving for retirement is about to get a whole lot more complicated. CNBC's Allison Linn reports on the "new normal" that may mean those planning to retire in 20-25 years may have to get used to a slightly lower standard of living than in the pension heyday.

  • If you thought $1 million was enough for retirement, think again; $1 million holds a different value today than it did years ago.

  • As the Federal Reserve reduces its fiscal stimulus and the economy improves, interest rates will probably be heading higher. Volatility in the bond market could cause problems for retirees who depend on fixed income investments. CNBC's Sharon Epperson has some advice on how to prepare.