|
Insider’s Report: Women and Retirement
|
As we celebrate Women’s History Month it’s important to reflect on how vitally important Social Security is to the financial security of women. Despite the dramatic increase that has occurred in women’s participation in the labor force, and the economic benefits derived from that participation, women continue to have fewer assets and income in retirement, and they depend more heavily than men on Social Security as the primary source of their financial well-being in retirement.
Women deserve an adequate retirement income whether a work life is spent in the home, in the paid workforce or a combination of the two. The National Committee supports changes that safeguard benefits for women, especially those with the greatest need, and improve benefit equity between one-earner and two-earner couples.
Among the changes the National Committee supports is increasing survivor’s benefits for widows. When a spouse dies, household income can plummet, forcing many widows and widowers into financial hardship. That’s because Social Security survivor benefits do not replace both incomes when a spouse dies. Yet, a widow will still have to pay many of the same fixed expenses, like rent or mortgage, car payments and insurance — leaving them struggling to pay their monthly bills.
The “Social Security 2100: A Sacred Trust Act” would ensure that dual-earning widows and widowers maintain at least 75% of the combined benefits that they received when both spouses were alive, which would provide a much-needed financial cushion.
|
|
|
|
| |
| |
| |
 |
|
| A Conversation with the National Committee’s Maria Freese |
| |
|
Former Capitol Hill staffer and NCPSSM Senior Policy Advisor Maria Freese has taken to the airwaves in recent months to remind the American public, the media and our elected officials about the ongoing challenges that many women face in retirement. Listen to Maria discuss women’s retirement equities.
|
|
|
| |
 |
|
| March is Women’s History Month! |
| |
|
As we celebrate Women’s History Month in March, it’s important to reflect on the challenges women continue to face in the workplace and in retirement. On average, women live longer than men; yet, their lifetime earnings are generally lower. Pay inequity while they’re working and often reduced benefits once they retire mean millions of women face retirement and health insecurity in their old age.
Social Security is the final hope for millions of Americans, many of them women, who want to live independent lives. And so they stand to lose the most if benefits are jeopardized in any way. That’s why the National Committee is urging Congress to pass legislation that strengthens earned benefits, and ensures the safety net for women is secure.
Learn more about the importance of Social Security for women and the proposals the National Committee supports which would improve benefit equity and protect benefits.
|
|
|
| |
 |
|
| Ask Web |
| |
|
Our resident Social Security expert, Webster Phillips — a Senior Policy Analyst for the National Committee and a 31-year veteran at the Social Security Administration — is here to answer your questions about Social Security.
You can either search our archives for valuable advice on a broad range of concerns or submit your question here.
This week's question is: I’m curious about some information my lady friend received last fall from her local Social Security office. When her husband died at age 65, she was told to take widow’s benefits now, when she was 62, and when she turned 70 piggyback her own Social Security payments onto her widow’s benefit. I thought it was one or the other, not both.
Click here to read the answer.
|
|
|
| |
 |
|
| Take Our Poll |
| |
|
Should Congress pass legislation that addresses the specific and ongoing challenges faced by women in retirement, who tend to live longer than men, earn smaller paychecks, have more years out of the workforce serving as caregivers, and are less likely to have pensions and other savings?
Take our poll now!
|
|
|
| |
|
|
|
|
|
 |
|
Ask Web
Whether you’re currently retired or approaching retirement, we can help answer your questions and provide valuable advice on Social Security. |
|
 |
|
Join Now
Your support sustains our campaigns in Washington to protect and strengthen Social Security and Medicare. |
|
 |
|
Eleanor's Hope
Learn more about our intiative to educate and advocate on critical women’s issues. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
2.png "tw"){kind=small}
