New York, January 24 (FinanceEnquiry.com) - The Social Security Commissioner said that from next month, annual Social Security benefits statements will be sent to people 60 and older, who are not yet receiving benefits. Mailing of these statements had been stopped to cut costs. Moreover, by the end of the year, one-time mailings to 25-year–old workers will begin. These mailings will introduce them to the entitlement program and its potential benefits.

However, apart from the above categories, the bulk of the 150 million people, who used to get the statements, will instead be directed to a website that has yet to be opened by the Social Security Administration in the coming months. People, who are unable to access the Internet to view benefit estimates or who need the statements for other purposes, will be able to request for the same. The details of revised mailing guidelines will be announced Tuesday.

It is expected that the reduction in the number of statements will bring down the estimated $70 million annual bill to about $3.7 million. The expenses for the Internet statements will be just a fraction of the cost of mailed statements. The Social Security Commissioner said that reduction of mailed statements was one of the many ways, in which the agency was cutting costs, such as not filling vacant jobs and consolidating offices.