Should you buy an annuity from Social Security?

Sass, Steven A. “Should you buy an annuity from Social Security?”. Issue in Brief 12-10, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, May 2012. http://hdl.handle.net/2345/bc-ir:103929.
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Abstract

The brief's key findings are: (1) Households now retiring need to transform their 401(k) and IRA savings into retirement income. (2) One way is to delay claiming Social Security to increase their monthly benefit, using savings to pay current expenses while they wait. (3) In effect, they are buying an annuity from Social Security: The savings used is the "price" and the increase in their monthly benefit the annuity income it "buys." (4) Buying an annuity from Social Security is generally the best deal in town, especially in today's low interest-rate environment.

Title
Should you buy an annuity from Social Security?
Author
Sass, Steven A.
Center
Center for Retirement Research
Genre
report
Date Issued
May 2012
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
12-10
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:103929
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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