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United States
The future of social security and medicare
Today's 25 year olds will receive lower social security and medicare benefits - or none at all - when they reach retirement. That is the conclusion of America's leading financial executives, according to a Watson Wyatt survey, 'Questioning the Future of Social Security and Medicare'. The survey covers companies and organisations employing a total of 33 million people. Because most pension and retiree health plans are integrated with social security and medicare, a decrease in benefits in these two entitlement areas can increase employer liability. Of the 347 CFOs who responded:
- 86% fear that the federal government will try to push significant retirement and healthcare financing obligations onto the private sector
- 63% predict that the government will make it more difficult for companies to change or reduce their retiree health benefits in the future
- 73% are concerned that the problems with social security will undermine their ability to retire workers
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