Puerto Rico’s economy increasingly depends on Social Security income amid a shrinking, aging population, according to the Puerto Rico Silver Economy study by ABEXUS Analytics. In 2025, the island ranked third nationally with 25.8% of its population receiving monthly Social Security payments, behind only Maine (27.1%) and West Virginia (27.0%), and disbursements equaled 40% of the island’s covered salaries, above every US state.
There are many Puerto Ricos within the Island,
"We would never have conceived that the proportion of what they represent in salaries would be so large," said Kevin González Toro, economist and president of the firm. Total population fell from a peak of 3.8 million in 2005 to just under 3.2 million in 2025, while residents 65 and older grew 93.7%, from 427,666 in 2000 to 828,673 in 2025.
Disbursements reached $12.55 billion in 2025, about $1.01 billion a month, up $7.69 billion (158.4%) from $4.85 billion in 2000. ABEXUS estimated that of every $100 spent at pharmacies, health centers, supermarkets and residential public services, $12 comes directly from a federal benefit check. Municipality gaps are wide: benefits equal 89.3% of covered salaries in Guayanilla and 70% in San Sebastián, versus 16.3% in Río Grande.
"There are many Puerto Ricos within the Island," González Toro said. Projections put residents 65 and older at nearly one in three by 2045, with Social Security eligibility rising to 30.5% by 2035 and 36.7% by 2045. The data will be available to the public.