Sunday is Mother’s Day. On this day dedicated to celebrating mothers, it’s important to note that nearly 55 percent of Social Security benefit recipients are women, according to the Social Security Administration reports.
The problem is that women often do not receive the maximum benefits many believe they deserve. That’s because Social Security income is impacted by motherhood. According to an article in Vail Daily, “your Social Security benefit depends on your 35 highest-earning years. If you have years with zero or very low earnings in that calculation, it can reduce what you receive in retirement.” So, when women step away from work or reduce their hours to care for family members, their Social Security earnings are affected.
Another issue affecting women is life expectancy. The article points out that, on average, women live about five years longer than men, meaning they will rely on Social Security for a longer period.
Council of Seniors is Here to Help Older Americans
Older Americans — women and men alike — worked long and hard and deserve to live a comfortable retirement free from financial strain.
All of us here are Council of Seniors want to improve retirees’ financial futures — and that starts with Congress enacting The SAVE Benefits Act. The passage of this bill can make up for Social Security cost-of-living adjustments (COLAs) that have let you down in recent years. If it passes, $581 will be returned to eligible seniors.
Sign our petition right now to show you’re on board with our effort.