Is Social Security Sexist?

New research shows that women rely on Social Security retirement income more than men but receive about $4,800 less in benefits annually. This striking fact was pointed out in a recent article by CNBC, which looked into the disparity.

It noted a few reasons why women are at a financial disadvantage during retirement:

• Women tend to earn less than men
• Women are more likely to take time off work to serve as caregivers
• Women generally live longer than men (about five years on average)

Regardless of gender, it’s critical that Social Security be there for all retirees.

The Seniors Trust is committed to improving the well-being of older Americans. We are doing that financially by encouraging lawmakers to enact the Social Security Expansion Act. This landmark piece of legislation will give retirees an immediate increase of about $200 a month in benefits, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.