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New report says that no pension means more hardship
Pension factor » Poverty rate nine times greater with no pension.

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At a glance

New report details the “pension factor”

In 2006 » 2.4 percent of elderly households with pensions lived in poverty, compared to 15.1 percent in poverty without pensions. (1:6)

In 2010 » 1.7 percent of elderly households with pensions lived in poverty, compared to 15.5 percent in poverty without pensions. (1:9)

4.7 million » The projected number of elderly Americans saved from poverty or near poverty in 2010 by pension income

$7.9 billion » The estimated taxpayer dollars saved due to pensioned households not needing public assistance

Source: “The Pension Factor 2012: The Role of Defined Benefit Pensions in Reducing Elder Economic Hardships, www.nirsonline.org

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