AARP Says Women Get $4,800 Less in Social Security as Retirement Gaps Deepen
Updated
Updated · AARP · Jun 25
AARP Says Women Get $4,800 Less in Social Security as Retirement Gaps Deepen
3 articles · Updated · AARP · Jun 25
Summary
AARP’s June 25 report says women receive about $4,800 less a year in Social Security retirement benefits than men, even as they depend more heavily on those payments.
A 16% weekly pay gap and roughly $10,000 less in annual earnings compound over careers, leaving women with between one-third and one-half less retirement savings than men.
Women also face more interrupted work histories: 61% of caregivers are women, making them more likely to work part time, cut hours or leave paid jobs to care for family.
Longer lifespans add pressure—women live about five years longer than men, 81.1 versus 75.8—raising the risk of outliving savings.
The report says Social Security helps offset those disadvantages through spousal and survivor benefits, a formula that replaces more income for lower earners, and inflation-linked benefit increases.