Posts Tagged "internet"

Most Boomers Don’t Rely Solely on SSA.gov

In 2000, Social Security launched a website allowing retirees to sign up for their benefits online without having to call or visit the agency. By 2013, about half of new retirees were using this feature to file their claims. However, progress stalled after that, despite continued growth in the number of baby boomers who were retiring.

A new survey of 2,600 people between ages 57 and 70 finds that even the people who sign up for their benefits online often wind up contacting Social Security for assistance. In the end, only 37 percent of all retirees claim completely online and never visit a field office or call the agency’s 800 number at some point during that process, suggests research by Jean-Pierre Aubry, a researcher at the Center for Retirement Research.

The boomers who are the most likely to complete the entire application online are college-educated people who are comfortable banking or filing their taxes, according to Aubry’s study. At the same time, older people of color are more hesitant to sign up for their benefits without calling or visiting their local Social Security office.

Given Social Security’s staff shortage and budget constraints, both the agency and retirees would benefit from fewer calls and visits. Fortunately, the share of retirees who apply for benefits exclusively online is likely to increase in the future. It is second nature for young adults – regardless of their race or whether they went to college – who grew up with cell phones in their hands to manage their finances online or buy things. When they start retiring, they will be more at ease than their parents with signing up for benefits without speaking with someone at the agency.

But there are things Social Security could do to increase online activity now. The agency already provides a personalized online statement that details eligibility and benefit levels for workers of all ages who create a my Social Security account. Based on the survey of older workers, Social Security could make it easier to get answers to basic inquiries such as whether an application, once submitted, is being processed. …Learn More

Photo of the inside of a computer

Older Workers Ride Out Computer Age

The computer revolution, unleashed in the 1970s, has not stopped. Minicomputers replaced mainframes, and IBM introduced its personal computer. Then came the Internet, laptops, robots, iPhones, and increasingly intelligent software that can drive cars and discern music preferences.

Continual technological change has reshaped and regenerated the economy several times over, creating new types of jobs unimaginable a few years earlier. But the past four decades have also been tumultuous for the workers who were either replaced by machines or couldn’t keep up with the evolving demands of their jobs.

This is a pressing issue for the older workers who would benefit from working longer to improve their retirement finances. An erosion in their physical stamina or mental agility conceivably makes them more vulnerable to losing out to progress. And it can be difficult for people who have invested years in a job to train for and find new employment.

But a new study of labor force trends by the Center for Retirement Research finds this has not been the case. The computer age has had about the same impact on workers over age 55 as it has had on the labor force overall.

Two factors have proved essential to whether people – whatever their age – have had job security in this period of change: whether the work is routine and whether it requires a college education.

Since the 1970s, job options have narrowed for many workers who did not attend college, because computers have been especially good at rapidly and tirelessly performing the routine tasks this group’s work often entails. Examples are the computerized financial transactions that replaced back-office workers who entered the data manually and the robots inserted into assembly lines. The more routine a worker’s job, the more vulnerable he is to being replaced by a machine.

The upshot is that this segment of the labor force is shrinking: roughly a third of U.S. workers hold routine jobs currently, down from more than half in 1979. Nevertheless, the magnitude of this decline has been roughly the same for workers over 50 as for the labor force overall, according to the study, which was conducted for the Retirement and Disability Research Consortium.

In contrast, computerization has not affected the demand for non-routine work that is physical in nature, such as construction and food preparation. These jobs typically do not require a college education either, but it has been virtually impossible to program computers to do non-repetitive work. “The rules governing our innate abilities are a mystery,” and this has protected jobs that emphasize uniquely human abilities, the researchers said.Learn More