Women usually have fewer pension benefits and retirement savings than men—but women must stretch them over a longer lifespan. Improved policies can help increase these important supplements to Social Security.

What’s at Stake Today

Women are typically paid less than men when they work full time — and they’re also more likely to work part time or take time out for caregiving. That means they have less saved when they retire. The law protects spousal rights in traditional pensions — but those have largely been replaced by 401(k)-type plans that lack spousal protections. And most part-time workers do not have access to a retirement savings plan at work.

What Is NWLC Doing?

We’re supporting the Women’s Pension Protection Act to increase women’s retirement income. Because retirement savings earned during a marriage may be one of a couple’s largest assets, the Act would extend spousal protections to 401(k)-type plans, giving spouses the right to be involved in making decisions about retirement income. It also would give more part-time workers access to retirement savings plans at work and expand access to reliable financial information and advice.

We also offer webinars and trainings for women on how to save for retirement and make the most of their retirement income. The earlier women start planning and saving, the more likely they are to stay out of poverty after they retire.