Social Security and Women

While many Americans are worried about retirement security, American women depend disproportionately on Social Security as a stable source of income because they have traditionally moved in and out of the workforce - living longer and having less access to supplemental retirement savings programs. Social Security provides women, who on average have less pension income, lower savings and a longer life expectancy than men, with a secure basic retirement income, protected against inflation for as long as they live. This is a critical benefit for women of all ages - widows, women with disabilities and women over the age of 65. With out Social Security, more than half of all elderly women would be living in poverty. And now, Republicans want to privatize Social Security, saying the program is no longer sustainable. This risky proposal threatens the only secure retirement income for millions of American women.

The Latest:

The Chairman of the House Ways and Means Committee Rep. Bill Thomas (R-CA) stated that gender could be considerations for Social Security benefits. Mr. Thomas' remarks are deeply troubling. The idea that an individual Social Security benefit should be based on gender is simply un-American. Women rely on Social Security's survivor, disability and retirement benefits as a foundation of economic security. Without Social Security, 52 percent of white women, 65 percent of African American women, and 61 percent of Hispanic women over the age of 65 would live in poverty. Mr. Thomas' remarks follow the Administration's acknowledgment that its proposal to privatize Social Security would drastically cut the guaranteed benefits to all Social Security beneficiaries. The Social Security program should make it easier for American families to achieve financial security, not harder.

Read a letter to Rep. Thomas (R-CA) from Leader Pelosi and 26 Women Members.

Resources

Read the 50-State Report from the National Women's Law Center on the impact of privatization on women and children.


Pelosi, House Democratic Leaders Call on President Bush to Reject Chairman Thomas' Divisive Social Security Proposals.


Pelosi to Chairman Thomas: Do Not Discriminate Against Women by Lowering Their Social Security Benefits.

“ Instead of leadership on the challenges facing Social Security, we have seen the Administration hyping a crisis without advancing a proposal. The President needs to reveal his plan now. No more catch-phrases, no more ideology – let’s put the numbers on the blackboard and see if they add up. ”

Rep. Earl Pomeroy (D-ND)