The $433 Social Security Gap That’s Costing Women More Than $5,000 a Year
Women retire with Social Security checks that fall hundreds of dollars short of what men collect each month, and the gap compounds with every passing year. A few strategic moves made before and during retirement can shift that equation significantly…
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Social Security is designed to replace about 40% of your income once you retire. But if you’re female, chances are, your monthly benefit will be significantly smaller than that of your spouse or male colleagues or friends.
The average monthly Social Security benefit for women at age 67 is $1,801.82. The average 67-year-old man, on the other hand, receives a monthly benefit of $2,234.41. That’s a difference of about $433 per month, or almost $5,200 per year.
Given that many retirees rely heavily on Social Security to cover their expenses, that gap could have a meaningful impact on your finances later in life. The good news, though, is that while some of the factors behind this disparity are difficult to control, there are steps you can take to maximize your Social Security.
Why women often receive smaller Social Security checks
The biggest reason many women receive less generous Social Security benefits is that they often earn less during their working years. Social Security calculates your retirement benefit using your highest 35 years of inflation-adjusted earnings. If your lifetime earnings are lower, your benefit will generally be lower as well.
While the gender pay gap has narrowed over time, it still exists. According to a Pew Research Center analysis, women earned about 85 cents for every dollar earned by men in 2024. That difference alone can easily translate into smaller Social Security benefits over a lifetime.
Many women also spend time out of the workforce caring for children, aging parents, or other family members. Those years can have an even bigger effect on Social Security.
If you work fewer than 35 years, the Social Security Administration fills the missing years with zeros when calculating your benefit. Even if you eventually return to work, several years with no earnings can significantly reduce your lifetime average.
Why maximizing your benefits matters even more
For many women, maximizing Social Security isn’t just about receiving a bigger check. It’s also about preparing for a retirement that may last longer.
Women, on average, live longer than men. That means you’re more likely to spend additional years relying on Social Security to pay your bills, cover healthcare costs, and provide dependable income after other retirement assets (like your savings) begin to shrink or even disappear.
Also, because Social Security benefits receive annual cost-of-living adjustments, starting with a larger monthly benefit generally leads to larger dollar increases over time as well. That’s why it’s important to do what you can to boost your Social Security benefits.
One of the most effective ways to score larger checks is to work at least part-time until 70, or line up other income to fall back on, so you’re able to delay your claim. Every year you wait to file past full retirement age, up until 70, boosts your monthly Social Security benefits by 8% for life.
If you’re married, also make sure to familiarize yourself with how spousal benefits work. You may be entitled to more money via spousal benefits than what your own earnings record allows for.
Finally, if you’re able to, hold down a part-time job in retirement if you don’t have close to a 35-year work history. Part-time wages could replace some $0 income years in your benefits formula, leading to larger checks and more financial stability throughout your senior years.
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Maurie Backman has more than a decade of experience writing about financial topics, including retirement, investing, Social Security, and real estate. Her work has appeared on sites that include The Motley Fool, USA Today, U.S. News & World Report, and Kiplinger.
Prior to becoming a full-time financial writer, Maurie worked in the financial industry trading distressed debt. She then changed course and spent a few years designing electronic toys. After a stint in content marketing and UX, she shifted back into writing and has since covered everything from the housing market to estate planning to Medicare.
When she's not busy writing, Maurie can be found hiking, walking her dogs, driving her kids to their various sports practices and games, and curling up with a good book. She cooks on occasion and bakes way too often.
