COVID-19 accounted for over 1.1 Million deaths, mostly seniors. Wouldn’t there be a significant surplus in the Social Security balance sheet due to this sudden drop in lifetime payments. Horrible to think about, but I’ve seen no reporting on the subject.
In: Economics
There is many factors, some I can think about are:
-Production fell down, and therefore contribution to social security too.
– Cost of COVID canceled the “benefits” from the death of old people
– Old people that survived to COVID cost more than it would’ve been.
– external circonstances.
Yes and no, while there was an increase in deaths especially among the elderly there was also an increase in long term sickness (long COVID) and other medical issues. Correspondingly there was also an increase in unemployment and a decrease in the cash going into social security.
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