The result of lower earnings means that women's pension benefits will be lower than those of men. Another factor making women vulnerable is lifespan. Although longevity is generally considered to be a blessing, when it comes to retirement security, the fact that women live longer than men is a disadvantage. Financial experts tell Americans generally to plan to replace 70 or 80 percent of their income at retirement. Unfortunately, this advice doesn't work for women, who are likely to need more than 100 percent of their pre-retirement income in order to remain secure throughout their longer lives.
Marital status is another important factor.
Being single in old age is somewhat financially risky, but for women it is substantially more so. Consider that in 1992, only six percent of married women over age 65 fell below the poverty line. But well over 20 percent of single women fit the government's definition of poverty. About 21 percent of women who were either widowed or never married were poor, while the percentage of divorced women in poverty climbs to 29 percent. And it is important to keep in mind that as women grow older, as they reach 75 or 85 or older, their poverty rate also climbs.