Social Security seems pretty fair on the surface, doesn’t it? You work, you pay in, and then you retire and take your benefits based on what you earned during your life. But if you’re a woman, there’s a pretty good chance you’re getting the short end of the stick—and it’s not your fault.”
According to the latest figures released by the Social Security Administration (SSA), women are being paid $332 less every single month than men. That’s roughly $4,000 less per year. And it’s not because there’s a glitch in the system—it’s because of systemic problems that women are facing in the workplace and at home.
The real reasons behind the disparity
Let’s break down why this is happening. It’s not anything in particular—it’s a series of supporting factors that build up over some time.
1. Taking time off to care for others
Women exit the workforce, temporarily at least, to attend to children, care for elderly parents, or tend to seriously ill relatives. Those years of caregiving are not included in Social Security earnings, so when benefit time comes, women come up short, through no fault of their own.
2. The pay gap is still a thing
Even in 2024, women are earning approximately 82 cents for every dollar a man makes doing the same job. That gap over a working lifetime is huge, and it also translates into women contributing less to Social Security, and when they get it back, getting back less.
3. Earning lower wages
Women are more likely to be employed in teaching, sales, caregiving, and customer service—fields that are generally lower-paying and lack private pension accounts. That leaves many women relying on Social Security alone in retirement.
4. Living longer, with less
Here’s the surprise: women live longer than men. Not only are they being paid less each month, but they have to make that money go further. Their chances of running out of money—or living in poverty—mushroom as they age.
What this looks like in real life
That $332 per month difference isn’t theoretical. To many retired women, it means:
- Missing doctor’s appointments or failing to fill prescriptions
- Having to shop for unhealthy, cheap food
- Being trapped at home due to lack of transportation
- Isolation and stress related to money
And when your health hinges on financial security in old age, this is far more than a money matter—it’s a matter of justice, of respect, of survival.
What’s being done?
SSA does have knowledge of the issue, but thus far, there are no solutions in development within the Social Security system. There are, however, some discussions taking place. Some proposals that have been made are:
- Granting women Social Security credits for caregiving years
- Providing financial education tailored to women’s needs
- Altering the calculation of benefits to include women’s higher life expectancy
Read this later:
Do spouses get the 2026 Social Security COLA increase, and who qualifies?
When is the 2026 COLA announced and what are the current predictions
What can you do right now?
If you’re a woman—and especially if retirement is more in the future—there are some things you can do to take care of yourself:
- Check your earnings record on the SSA website periodically to make sure it’s accurate.
- Delay taking benefits until age 70 if you can—you’ll get more in your monthly check.
- Open a retirement savings account like a 401(k) or an IRA, even if it’s for a small amount of money.
- Talk to a financial advisor or charity that is tailored to you.
