Benefits for Women and Caregivers

Older women experience higher poverty rates than older men. This is particularly true for women from groups that are discriminated against. Women are less likely than men to have had access to employer-sponsored retirement savings plans during their working years. Thus, they tend to rely more heavily on Social Security benefits than men do. More than one-fifth of white women age 65 and older and almost one-third of Black and Hispanic/Latino women age 65 and older rely on Social Security for 90 percent or more of their family income.

Moreover, women also generally receive lower Social Security benefits than men. This is partly due to the gender pay gap. It is also because women spend more time out of the labor force or working part-time due to caregiving responsibilities than men do. For example, in 2020, 61 percent of caregivers of adults 50 and older were women. 

While women predominate among those caring for children and other family members, men are also involved. Among people caring for adults with chronic care needs or functional limitations, about 40 percent are men. Changes to Social Security could improve the financial security in retirement of women and of caregivers. For example, earnings credits could be provided for caregiving. The calculation of survivor benefits could also be adjusted.