Full Citation

Title: OVERCOMING BARRIERS to RETIREMENT SECURITY for WOMEN THE ROLE OF SOCIAL SECURITY

Citation Type: Miscellaneous

Publication Year: 2016

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Abstract: The share of women working today is near an all-time high. While their earnings and projected retirement income have grown compared to previous generations of women, a significant gender gap still exists. At the same time, women continue to bear most of the responsibility of caregiving, and many must juggle the demands of work and caring for a child or adult loved one. Moreover, more women today are either never married or divorced, meaning they have to handle these responsibilities on their own. These challenges make it harder for women to sustain adequate earnings and save for retirement. Social Security has proven to be the most effective vehicle for women to achieve retirement security. Provisions that increase benefits for low earners, caregivers, and older seniors, or modernize benefits for certain marital statuses such as the divorced and survivors, would address some of the challenges that particularly affect women. However, they would be available on a gender-neutral basis and would benefit other vulnerable groups, including people of color. (To close the projected long-term shortfall and expand benefits, increased Social Security revenue would be necessary. For a review of revenue-raising options, which are beyond the scope of this brief, see the Academy report: Fixing Social Security: Adequate Benefits, Adequate Financing. 1 )

Url: https://www.nasi.org/sites/default/files/research/SS_Brief_49.pdf

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Authors: Entmacher, Joan; Waid, Mikki; Veghte, Benjamin, W

Publisher: NATIONAL ACADEMY OF SOCIAL INSURANCE

Data Collections: IPUMS USA

Topics: Aging and Retirement, Gender

Countries: United States