When Will the Gender Gap in Retirement Income Narrow?

Among recent retirees, women receive substantially less retirement income from Social Security and private pensions than men. Increases in womenʹs labor market attachment and earnings relative to men over the past 50 years provide some optimism for an improvement in female retirement income, particularly for married women. This study shows that womenʹs income from Social Security and private pensions has improved only slightly relative to men over the past 25 years. Using data on people approaching retirement age over the next 20 years, prospects for future improvement are investigated. One of the main conclusions is that pension income among women (particularly married women) will rise sharply relative to menʹs over the next few decades, but a substantial gap could remain even if women close the gap in experience and salaries.