Women on average live longer than men–but usually have fewer pension benefits and retirement savings. Improving pensions and retirement savings for women would supplement Social Security–and is critical to women’s retirement security.

What’s at Stake Today

Women are overrepresented in poorly paid jobs. Women, and especially women of color, are typically paid less than men when they work full time—and pay gaps are even larger for women of color. Women are also more likely to work part time or take time out for caregiving. This means that women have a harder time putting money aside for retirement–resulting in smaller pensions and fewer savings when they retire. Women are also more likely to rely on a spouse’s pension or retirement savings than men. The law protects spousal rights in traditional pensions—but those have largely been replaced by 401(k)-type plans that lack spousal protections, even though retirement savings may be one of the biggest assets in a marriage.

What Is NWLC Doing?

We support ensuring women’s access to retirement savings and protecting spouses’ right to be involved in making decisions about retirement savings and income. We also support making tax incentives for retirement savings, like the Saver’s Credit, available to more low- and moderate-income women by making these incentives refundable.