“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. ”
To read the complete article, check out the September/October issue of Pink .