To read the complete article, check out the September/October issue of Pink.
“For most Americans, the first three quarters of this year have been trying times. [...] Inflation and the economic downturn can be particularly tough for women, “who face barriers to advancement in the economy and are still affected by a pay gap,” says Heidi Hartmann, Ph.D., president of the Institute for Women’s Policy Research.
[…] Women represent 57 percent of all Social Security beneficiaries age 62 and older, and 70 percent of beneficiaries age 85 and older, according to the Social Security Administration. “Social Security is adjusted for inflation, which is most important for women because we live longer,” explains Hartmann. “Privatizing would put retirement benefits at risk, especially in economically uncertain times like those we’re living in right now. Without Social Security, more than two-thirds of elderly women would live in poverty.”