The Unsung Economic Engine: Retiree Pension Spending

When we think of economic impact across the U.S., certain industries often come to mind – finance, technology, healthcare, and manufacturing. But one important driver of the U.S. economy that gets scant attention is spending of pension income by retirees.

Pensions often are viewed only through the narrow lens of retirement, as reliable monthly income for many U.S. retirees. For context, some 26 million retirees working in both the private and public sectors across the nation in 2022 received more than $680 billion in pension benefits.