Although women face higher health care expenses and a greater risk for long term care, they may be less prepared for the economic realities of retirement, according to a new study.
The 2011 Retirement Confidence Study from the non-profit Employee Benefits Research Institute found that women are less confident than men when it comes to retirement planning. While 27 percent of men believe they are doing a good job preparing financially for retirement, just 18 percent of women say the same. Additionally, men are less concerned about having enough money to take care of basic expenses during retirement (32 percent of men versus 24 percent of women).
And although men and women are equally concerned about receiving benefits from Social Security in the future, women are more likely than men to be "very concerned" that that Social Security payments will be reduced (68 percent of women versus 52 percent of men) and the age at which they become eligible for Social Security retirement benefits will increase before they retire (54 percent of women versus 44 percent of men).
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
