The Needs of the Aged in Relation to Need Among Other Groups

T H E PASSAGE of the Social Security A c t was p u b lic recognition of the fact t h a t the aged constitute a large and needy p a r t of our dependent groups. I t does n o t follow, however, t h a t the aged persons still outside the provisions of the act constitute the largest or most needy group remaining i n our dependent populat ion . I n considering w h a t f u r ther legislation needs to be enacted, i t is imperative t h a t careful analysis be given to the present economic status of the aged i n relat ion to other needy groups. A t the present t ime i t is estimated t h a t there are about 14.2 mi l l i on persons aged 60 and over, of whom 0.2 mi l l i on are aged 65 and over. Whi l e many of the aged s t i l l unprovided for are needy, i t is frequently assumed t h a t a l l aged persons are needy. As a matter of fact, many of the i n d i v i d uals w i t h the highest incomes and the largest amounts of wealth or savings are to be found i n the higher age groups. Moreover, the 1940 census indicated t h a t 3.7 mill ion persons aged 60 and over were s t i l l employed i n M a r c h of last year, and this number has probably increased to over 4 m i l l i o n at the present time. I n addi t ion , a t the present time more than threefourths of a mi l l i on individuals have been retired upon Federal pensions: 371,000 on veterans' al lowances, 30,000 on m i l i t a r y pay, 56,000 on civil -service ret irement, the Foreign Service, Canal Zone, Alaska Rai lroad, Coast and Geodetic Survey, and the smaller Federal retirement systems, 145,000 on railroad retirement, and 220,000 on Federal old-age insurance benefits. Approximately 50,000 persons have been retired on State pensions and 60,000 on munic ipa l pensions. Pr ivate industr ia l pensions provide for 120,000 retired workers, trade-union pensions for 13,000, and other pr ivate pensions for an addi tional 40,000. The number of aged w i t h insurance and annui ty