Shortchanged in Retirement: Continuing Challenges to Women’s Financial Future
Women tend to earn less than men during their working years and are more likely to live in poverty when they retire, according to a report from the National Institute on Retirement Security. Shortchanged in Retirement: Continuing Challenges to Women’s Financial Future finds that women are 80 percent more likely than men to live in poverty after age 65, with the gap widening as men and women age. The report also finds that while women are slightly more likely than men to work for employers that offer retirement plans, they are less likely to participate in such plans due to eligibility requirements. Social Security is a critical source of income for most retired women, especially black women, according to the report.