Average and Effective Interest Rates
The table below provides two types of interest rates—the
average annual special-issue rate and the effective rate.
- The average special-issue
interest rate for a calendar year is the average of the
12 monthly interest rates on new
issues during the year.
- An effective interest rate for a calendar year is the interest earned in
that year divided by the average level of assets held during the year. This rate reflects
the entire portfolio of securites held by the Social Security trust funds
(OASI and DI).
Effective rates for the trust funds on a combined basis are shown below; rates for
each trust fund, separately, are also available.
Average annual special-issue interest rates on new issues and effective
annual interest rates (percent)
| Year |
Average |
Effective |
| 1940 |
2.5 |
2.4 |
| 1941 |
2.5 |
2.4 |
| 1942 |
2.2 |
2.3 |
| 1943 |
1.9 |
2.1 |
| 1944 |
1.9 |
2.0 |
| 1945 |
1.9 |
2.1 |
| 1946 |
1.9 |
2.0 |
| 1947 |
2.0 |
1.9 |
| 1948 |
2.1 |
2.8 |
| 1949 |
2.1 |
1.3 |
| 1950 |
2.1 |
2.0 |
| 1951 |
2.2 |
2.9 |
| 1952 |
2.3 |
2.2 |
| 1953 |
2.4 |
2.3 |
| 1954 |
2.3 |
2.3 |
| 1955 |
2.3 |
2.2 |
| 1956 |
2.5 |
2.4 |
| 1957 |
2.5 |
2.5 |
| 1958 |
2.6 |
2.5 |
| 1959 |
2.6 |
2.6 |
| 1960 |
2.9 |
2.6 |
| 1961 |
3.8 |
2.8 |
| 1962 |
3.9 |
2.8 |
| 1963 |
3.9 |
2.9 |
| 1964 |
4.1 |
3.1 |
| 1965 |
4.2 |
3.2 |
| 1966 |
4.9 |
3.5 |
| 1967 |
5.0 |
3.8 |
| 1968 |
5.5 |
4.0 |
| 1969 |
6.6 |
4.4 |
|
| Year |
Average |
Effective |
| 1970 |
7.3 |
5.1 |
| 1971 |
6.0 |
5.3 |
| 1972 |
5.9 |
5.4 |
| 1973 |
6.6 |
5.8 |
| 1974 |
7.5 |
6.2 |
| 1975 |
7.4 |
6.6 |
| 1976 |
7.1 |
6.7 |
| 1977 |
7.1 |
7.0 |
| 1978 |
8.2 |
7.2 |
| 1979 |
9.1 |
7.5 |
| 1980 |
11.0 |
8.6 |
| 1981 |
13.3 |
9.9 |
| 1982 |
12.8 |
11.2 |
| 1983 |
11.0 |
10.8 |
| 1984 |
12.4 |
11.6 |
| 1985 |
10.8 |
11.2 |
| 1986 |
8.0 |
11.1 |
| 1987 |
8.4 |
10.1 |
| 1988 |
8.8 |
9.8 |
| 1989 |
8.7 |
9.6 |
| 1990 |
8.6 |
9.3 |
| 1991 |
8.0 |
9.1 |
| 1992 |
7.1 |
8.7 |
| 1993 |
6.1 |
8.3 |
| 1994 |
7.1 |
8.0 |
| 1995 |
6.9 |
7.8 |
| 1996 |
6.6 |
7.6 |
| 1997 |
6.6 |
7.5 |
| 1998 |
5.6 |
7.2 |
| 1999 |
5.9 |
6.9 |
|
| Year |
Average |
Effective |
| 2000 |
6.2 |
6.9 |
| 2001 |
5.2 |
6.6 |
| 2002 |
4.9 |
6.4 |
| 2003 |
4.1 |
6.0 |
| 2004 |
4.3 |
5.7 |
| 2005 |
4.3 |
5.5 |
| 2006 |
4.8 |
5.3 |
| 2007 |
4.7 |
5.3 |
| 2008 |
3.6 |
5.1 |
| 2009 |
2.9 |
4.9 |
| 2010 |
2.8 |
4.6 |
| 2011 |
2.4 |
4.4 |
| 2012 |
1.5 |
4.1 |
| 2013 |
1.9 |
3.8 |
| 2014 |
2.3 |
3.6 |
| 2015 |
2.0 |
3.4 |
| 2016 |
1.8 |
3.2 |
| 2017 |
2.3 |
3.0 |
| 2018 |
2.9 |
2.9 |
| 2019 |
2.2 |
2.8 |
| 2020 |
1.0 |
2.6 |
|