The number of Social Security beneficiaries reached a new high in April, with more than 69.3 million Americans earning monthly payments, according to Social Security Administration (SSA) data.
As more baby boomers reach retirement age, the number of recipients relying on the program is set to increase just as the SSA faces a funding challenge.
In April, the number of Americans earning Social Security benefits climbed to 69.37 million, up from 69.16 million in March.
For the last 10 years or so, the number of Social Security recipients has been on an upward trajectory.
In April 2024, 67.7 million people earned Social Security benefits. Four years previous, in 2020, just 64.62 million Americans earned payments, up from 56.75 million in 2012, which is the earliest year the SSA has publicly available data.
