AARP Eye Center
Just How Important Social Security is to Older Women
By Charlotte Marshall, September 22, 2010 01:47 PM
Retirement USA and the Social Security Administration ( SSA) have some information showing how Social Security is a lifeline to older Americans, particularly women. Via AFL-CIO blog:
The estimated income that older Americans need to meet basic needs, depending on homeowner status, is between $16,163 and $20,869, according to the Elder Economic Security Standardâ„¢ Index.
But half the women ages 65 and older have an annual income of less than $14,429 (men's median income is $25,344). On top of that, 11 percent of women 65 years and older live below the federal poverty line of $10,326 for single persons ages 65 and older. That is well below what is necessary to meet basic needs.
In 2008, 46 percent of all unmarried females receiving Social Security benefits relied on Social Security for 90 percent or more of their income. Only 23 percent also received private pension benefits along with their Social Security benefits.
If those numbers aren't enough reason to protect Social Security, I don't know what is.