Social Security is a critical component of the financial safety net for millions of people around the world. It was established to provide financial assistance to retirees, people with disabilities, and survivors of deceased workers, with the goal of ensuring a minimum level of economic security during times of vulnerability.
The benefits received are largely determined by each individual’s work history and are calculated using earnings during working years. However, this benefit is not immune to the wage gap between men and women, so it is also necessary to explain the differences in payments based on gender.
Is it true that men receive more Social Security than women?
Men do indeed receive higher average Social Security payments in all age groups, and this is explained by the following information:
Age / benefit for retirees / benefit men / benefit women
62 years / $1,226.29 / $1,370.10 / $1,095.01
63 years / $1,247.81 / $1,387.88 / $1,119.64
64 years / $1,287.94 / $1,431.08 / $1,158.20
65 years / $1,389.51 / $1,546.26 / $1,249.12
66 years / $1,626.89 / $1,816.99 / $1,441.82
67 years / $1,665.17 / $1,853.68 / $1,478.02
68 years / $1,642.25 / $1,826.01 / $1,452.42
69 years / $1,671.73 / $1,860.00 / $1,477.39
70 years / $1,768.94 / $1,965.31 / $1,568.68
Why is there this gap?
The disparity in benefits between men and women persists across all age groups. Although the amounts for both sexes vary with age, the difference remains, highlighting the long-term impact of wage and labor disparities on the retirement system.
Among the reasons given is that women are more likely than men to leave the workforce to care for children or other family members. This results in years with no earnings being included in the 35-year calculation, significantly reducing the overall benefit.
