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Ben Carson on Social Security

 

 


Individuals responsible for pension; with federal supplement

Q: How much government old-age pension is enough?

Carson: There is no question that people need pensions, particularly given the extended lifespan we are now experiencing. By changing Fed policies to allow interest rates to rise and encouraging people to put aside some of their earnings, we can hopefully reestablish the idea that each individual is responsible for their own pension and that government programs like Social Security are only supplemental in nature. Each individual needs to determine for themselves how much is enough based on their lifestyle expectancy.

Source: Forbes Magazine 2015 interview by Mike Patton , Jan 29, 2015

Raise retirement age gradually; & forbid raiding Trust Fund

Q: At some point in the not-too-distant future, the current system may not be sufficient to meet the program's expenses and will require changes. What actions would you recommend to add stability to the Social Security system?

Carson: When Social Security was first enacted, the average age of death was about 63 years. It is now approaching 80 years and rising. Obviously we have to adjust to a changing situation. The age at which benefits are distributed should be gradually raised. I stress the word gradually because people must be given a chance to adjust their plans and expectations. It must be forbidden by law for government to use any of the money that has been set aside for Social Security.

Source: Forbes Magazine 2015 interview by Mike Patton , Jan 29, 2015

Each person should be responsible for their own pension

People need pensions, particularly given the extended lifespan we are now experiencing. By changing Fed policies to allow interest rates to rise and encouraging people to put aside some of their earnings, we can hopefully reestablish the idea that each individual is responsible for their own pension and that government programs like Social Security are only supplemental in nature.
Source: Forbes Magazine 2015 coverage of 2016 presidential hopefuls , Jan 29, 2015

Gradually raise the age of eligibility for benefits

When Social Security was first enacted, the average age of death was about 63 years. It is now approaching 80 years and rising. We have to adjust to a changing situation. The age at which benefits are distributed should be gradually raised. I stress the word gradually because people must be given a chance to adjust their plans and expectations. It must be forbidden for government to use money that has been set aside for Social Security.
Source: Forbes Magazine 2015 coverage of 2016 presidential hopefuls , Jan 29, 2015

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Page last updated: Mar 24, 2016