The poverty risk for older Americans increases 50 percent if they do not have a defined benefit pension plan to fall back on, according to a new study by the National Institute on Retirement Security.
The rates of poverty among older households lacking defined benefit pension income were about nine times greater than the rates among older households with DB pension income in 2010, up from six times greater in 2006.
Elderly people with access to a pension also are less likely to need food, shelter, health care or public assistance.
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