Taking risk into account, Social Security has much higher return than any mix of financial assets in private accounts. When building financial security for the future, one needs guarantees. Saving and investing is great but not at the expense of the one guarantee that has never missed a paycheck Social Security. So the privatizers realized early on that they had to make the bogus claim that privatization would be a bonanza for women. Women have average lower lifetime earnings because of pay-inequity and time out of the workforce to care for family.
Women are less likely to have pensions when they retire.
If they are really for reducing poverty they'd stand with NCWO in it's proposals to strengthen Social Security for women. Social Security has significantly reduced poverty rates over the last 65 years and reforms can be done to strengthen the system to further reduce poverty. Scrapping a systems with a proven track record makes no sense. Instead let's explore reforms that recognize the different earnings and life-patterns of women.