Seventy years ago, President Roosevelt called on Congress to enact legislation to provide assistance for the unemployed, the elderly, impoverished children and the disabled. Today, nine out of ten people over age 65 receive Social Security benefits. Fully 60% of Social Security beneficiaries are women and two-thirds of elderly women depend on Social Security to avoid living in poverty. Nearly one-third of recipients are disabled workers, families of retired or disabled workers and survivors of deceased workers.
President Bush is proposing an overhaul of the Social Security program to change the way benefits are calculated and paid out, including having workers invest part of their contributions in private accounts. But these proposals could severely undermine the Social Security safety net and are particularly harmful to women and minorities. As baby boomers near retirement, Social Security - the foundation for most seniors’ retirement - must be strengthened, not whittled away. Urge Members of Congress to oppose privatization of Social Security.
Women rely on Social Security more than men do. Reducing the guaranteed benefits will force more elderly women into poverty. Women would be disproportionately harmed by private savings accounts because they historically earn less than men, are less likely to have the resources to save for retirement, spend less time in the workforce due to caregiving responsibilities and, on average, live longer than men.
The National Partnership is opposed to any proposal that would cut Social Security's guaranteed benefits. We are working to ensure that the interests of women and families are front and center in this debate.
Social Security Fact Sheets
Social Security Privatization: The Parent Trap
Privatization Would Particularly Harm Women
What Women Say About Social Security
Social Security, Old Age and Poverty
Privatizing Social Security Would Harm African American Women
Privatizing Social Security Would Harm Hispanics
Social Security Reform and Mothers
What Younger Women Say About Social Security and Privatization | | |
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