Women and Social Security

This article by the National Committee to Preserve Social Security & Medicare (NCPSSM) discusses the challenges to women receiving sufficient retirement benefits.

In the United States, women live longer than men. However, women are less likely to receive a pension than men. Those who do get pensions receive smaller ones than men are awarded. Because of this, retirement savings and pension may not be sufficient to cover women's needs. Older women, especially those who are unmarried, thus depend on Social Security benefits.

A person becomes eligible for Social Security benefits after working for wages for a set amount of time (roughly ten years of employment). Married women may also be eligible for spouse or widow benefits. A married woman who is not working may get spouse benefits. Because of the gender wage gap and the unpaid time women spend caregiving, women typically receive fewer Social Security benefits than men.

The National Committee to Preserve Social Security & Medicare (NCPSSM) developed the following policy recommendations to ensure that women have sufficient Social Security benefits after retirement:

• Provide widows and widowers with seventy five percent of the combined benefits.
• Adjust benefits for time devoted to caregiving for children and elderly family members.
• Allow disabled widows to receive one hundred percent of their benefits.
• Prevent widows from being subjected to an early retirement reduction.
• Extend Social Security benefits for children to age 22 for those in school again.

In 2021, 55 percent of all Social Security beneficiaries were women. That means 36 million women receive monthly Social Security payments—- including 26.3 million as retired workers, 4 million as disabled workers, 3.8 million as widows and 2 million as spouses of retired or disabled workers. Significantly, once Social Security beneficiaries reach age 85, then women comprise 63.9 percent of the total, nearly two out of three. Regarding that longevity, a woman who reaches age 65 can expect to live an additional 21.5 years. For these women, Social Security represents a vitally important source of income, and is often their only available hedge against inflation. Without Social Security, 41 percent of these women would be living in poverty. Even with Social Security, 11 percent of older women still live in poverty.

SOURCE: National Committee to Preserve Social Security & Medicare (NCPSSM) • LAST UPDATED: October 31, 2022