Nationwide survey: Most Americans expect Social Security to change

Nationwide says its 2026 Social Security Survey found most Americans who receive or expect to receive benefits believe the program needs to change, even as many said they do not have a clear plan if payments are reduced.

Nationwide said 80% of U.S. adults in the survey who receive or expect to receive Social Security believe the system needs to change. The company said Social Security remains a major source of retirement income for millions of people.

According to the release, views were similar across party lines. It said 82% of Democrats and 78% of Republicans in the sample said Social Security needs reform. The release also said the same three proposals were the most popular approaches to strengthening the system among Democrats and Republicans, though it did not identify those proposals in the extracted text.

The survey also found a gap between concern and preparation. Nationwide said 61% of respondents believe the government is likely to make changes before benefits are reduced, and 75% said a candidate’s position on Social Security reform will be a major factor in future voting. Still, only 20% said they know how they would adjust their finances if benefits were reduced.

Respondents estimated, on average, that depletion was 17 years away. The release cited the 2026 Social Security Trustees Report as projecting that the fund will run out in the fourth quarter of 2032. The release did not reconcile those figures, which reflect different measures and timeframes.

Among those without a clear financial plan, 45% said a specific announcement of government changes would prompt them to act. For current beneficiaries, 74% said they have changed their finances because rising living costs have outpaced benefits. Reported changes included cutting discretionary spending such as travel or dining out, reducing spending on essentials including groceries and medications, and relying more on savings or retirement accounts.

Nationwide also said 51% of Americans have filed or plan to file for Social Security as early as possible to make sure they receive something before program changes or funding run short. The release said people who work with a financial professional are nearly four times as likely to have a clear plan for reduced benefits, at 39% versus 10% for those who do not. It also said 79% are interested in learning from a financial professional about how their benefits will be taxed in retirement.

Kevin Jestice, president of Nationwide Retirement Solutions, said Americans “cannot afford to wait” to prepare for changes and that scenario planning can help people adjust savings, income strategy and claiming decisions. He also said claiming age can affect income for the rest of retirement and should not be driven by fear or headlines alone.

The survey was conducted online in the U.S. by The Harris Poll for Nationwide among 1,823 adults age 18 and older who currently receive or expect to receive Social Security. The release also said it included oversamples of Gen Z, millennials, Gen Xers, boomers and adults ages 60 to 65. Field dates were May 11 to June 4, 2026.

Nationwide described itself as a Fortune 100 company based in Columbus, Ohio. The release said The Harris Poll is part of Harris Insights & Analytics.

Sources

• PR Newswire release: “Americans agree Social Security needs reform — they even agree on how”

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.