Women And Social Security

Women’s Equality Day is August 26, and this is the perfect time to remind you how much Social Security values and appreciates women. Even though men and women with identical earnings histories receive the same benefits, there are things women in particular should know about Social Security. There are trends and differences in lifestyle and patterns of earnings that can affect benefits.

For example, some women may be caregivers for many people: spouses, children, and parents. Taking time away from the workplace to care for a newborn child, ailing spouse, or aging parent can have an impact on your future Social Security benefits.

Also, despite significant strides through the years, women are more likely to earn less over a lifetime than men. In addition, women are less likely than men to be covered by private retirement plans, so they are more dependent on Social Security in their retirement years.

Did you know that women tend to live on average about five years longer than men? This means more years depending on Social Security and whatever other retirement income or savings they accumulate.

If a woman’s spouse earns significantly more than she does, it is very possible she will qualify for a larger benefit amount on the spouse’s record than on her own. To learn more, visit our Women’s page at www.socialsecurity.gov/women and read, print, or listen to our publication, What Every Woman Should Know.

You may also be interested in listening to Carolyn Colvin, Acting Commissioner of Social Security, on National Public Radio as she talks about women and money. Just visit: www.npr.org/2014/04/15/301782870/social-security-chief-women-live-longer-so-they-should-save-early.

To celebrate Women’s Equality Day, learn how Social Security treats men and women equally by visiting www.socialsecurity.gov/women.