PlanGap Releases the Results of the 2025 Annual Social Security Confidence Survey

PlanGap, the product innovation company creating a new class of retirement insurance solutions, today released the findings of its 2025 Social Security Confidence Survey. The nationally representative study of Americans ages 50 and older revealed continued concern about the future of Social Security and a sharp decline in confidence that full benefits will be preserved.

The survey of 1,016 U.S. adults was conducted after the release of the 2025 Social Security Board of Trustees Report on June 18, which reiterated that, without Congressional action, the Trust Fund is projected to be depleted by 2033. At that point, the program would be able to pay only 77% of scheduled retirement benefits, representing a 23% shortfall.

Highlights from the 2025 Survey:

Confidence Remains Low

• 70% of respondents said they were either “very” or “extremely” concerned that they may not receive full benefits as promised.
• Just 9% said they felt “content” because they are hopeful the government will resolve the issue without cutting benefits.
• 68% reported low confidence in the government’s ability to solve the funding shortfall without reductions.

Role of Social Security in Retirement

• 87% said Social Security will play a major or moderate role in their retirement plan’s success.
• Nearly 48% expect Social Security to fund at least half of their personal retirement income.

Emotional Impact of Potential Cuts

When asked to compare the stress of a hypothetical 23% benefit cut, top responses included:

• Being diagnosed with cancer (14%)
• Car accident (13%)
• Global pandemic (11%)
• Death of a loved one (10%)

Views on Congressional Action

When asked how Congress is most likely to address the shortfall:

• 72% predicted benefit cuts for some or all recipients
• 15% believe the government will increase payroll taxes
• 14% think the government will borrow money to cover the shortfall

PlanGap’s Perspective

“Social Security is a cornerstone of retirement planning for millions of people, and the public is clearly paying attention to what the Trustees are saying,” said David Duley, Founder and CEO of PlanGap. “When confidence is this low, Americans aren’t just looking for reassurance — they’re looking for real-world solutions. At PlanGap, we’re focused on helping retirees prepare for potential benefit cuts by building financial solutions designed to offset reductions or provide enhanced liquidity when it matters most.”

About PlanGap

Headquartered in Atlanta and founded in 2017, PlanGap is a product innovation company creating a suite of “trigger-based” annuity and life insurance products—retirement insurance—that solve previously unaddressed financial concerns for retirees. Through its insurance carrier partners, PlanGap empowers individuals to protect their retirement income from potential policy changes and institutional risk. For more information, visit plangap.com.

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“Americans aren’t just looking for reassurance — they’re looking for real-world solutions,” said David Duley, Founder and CEO of PlanGap.