Women face disproportionate impact from looming Social Security cuts due to existing gender income gap
By
Medora Lee
Summary
A FinanceBuzz analysis of government data reveals that women aged 62+ collecting Social Security receive on average $5,254 less annually than men ($1,760/month vs $2,198/month). Women make up 55% of Social Security recipients in this age group. The article warns that looming Social Security benefit cuts projected for 2032 would disproportionately impact women, who already collect significantly less than men each year, exacerbating existing gender-based retirement income disparities.
Source
bskyWomen face disproportionate impact from looming Social Security cuts due to existing gender income gapeu.usatoday.comKey quotes
· 3 pulledWomen, who make up more than half (55%) of Social Security recipients ages 62 and up, on average collect $5,254 less annually than men
Nationally, women receive an average of $1,760 monthly in Social Security, $438 less than the $2,198 men receive on average
The disparity means looming Social Security benefits cuts in 2032 would more deeply impact women, who already collect less than men each year
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