Pensions May Not Be So Puny

The elderly may be better off than the government's numbers show. According to a new study by Watson Wyatt, a human resources consulting firm, Census Bureau surveys of income far understate the amount of pension income going to retired Americans. For example, in 1990 the Census numbers showed $77 billion in pension benefits paid to the elderly. But according to Sylvester Schieber, director of research at Watson Wyatt, the true amount of pension benefits was closer to $112 billion, based on analysis of tax data.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.