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When clients count on Social Security

Since retirement and Social Security go hand in hand, your clients may be counting on their benefit checks to provide them with income when they retire. Unfortunately, not everyone qualifies for benefits, and for those who do qualify, Social Security may not provide as much income as they expect. It is never too early to talk with clients about Social Security to help provide a realistic idea of what鈥檚 ahead.

Full monthly benefits for more people

About 95 percent of jobs today participate in the Old-Age, Survivors, and Disability Insurance (OASDI) program, which administers Social Security¹. But until recently, people who worked for the government (city, state or federal), railroads or public schools could expect reduced Social Security benefits.

Signed into law in January 2025, the Social Security Fairness Act eliminates provisions that prevented workers who received government pensions from getting their full Social Security benefits. This applies to benefits payable after December 2023. Affected clients will receive an increased monthly benefit, plus a lump-sum amount to compensate for lower benefits paid in 2024. 

Of course, some people work and pay Social Security taxes but never reach fully insured status 鈥� in other words, they don鈥檛 earn the required 40 credits over ten years of work. Some individuals in this situation qualify for disability benefits. Others (although not everyone) may be eligible for benefits on a family member鈥檚 or ex-spouse鈥檚 earnings record.

Considering the full retirement picture

Clients expecting to receive Social Security may not be able to count on their benefits replacing their previous income in full. However, Social Security can help provide financial security for people after they stop working.

Consider these statistics for individuals and couples age 65 and older²:

Most people today supplement Social Security benefits with income drawn from other sources:

• Savings and investments (including qualified retirement plans and IRAs)
• A pension (for those who have one)
• Annuities (which can convert a portion of savings into a guaranteed income stream a retiree can鈥檛 outlive)

Looking to the future

Clients who are counting on Social Security for retirement need a realistic idea of how much their monthly benefit might be and how much additional income they鈥檒l need to help cover their anticipated retirement expenses. A comprehensive retirement planning discussion identifying and addressing any potential gaps between income and expenses can be a good place to begin.

There are many unknowns, of course 鈥� inflation, health care expenses, the overall economy and even the number of years a client will spend in retirement. Thoughtful planning helps put clients in the best position to thrive during retirement and adapt to changes as necessary. A fixed annuity may be the right fit for clients who need to fill an income gap.

Get your Social Security Toolkit

Use these tools and resources to help you have effective Social Security discussions and reinforce client relationships. Get Toolkit  

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¹Social Security Coverage for workers in the U.S., .
²Income for Americans 65 and older, .

Not affiliated with or endorsed by the Social Security Administration or any governmental agency. This material contains educational information regarding the availability and details surrounding the Social Security program and is not intended to promote any product or service offered by 桔子视频. The information represents a general understanding of the Social Security Program and should not be considered personalized advice regarding Social Security, tax, or legal advice. Details of the Social Security Program are subject to change. Please consult with your tax or legal advisor regarding your individual situation prior to making any decisions. Visit for additional details.