Equal Pay Day 2009

Equal pay for women is vital, if above all other reasons simply because it is the right thing to do. Women, who do the same work as men, should receive the same compensation. Additionally, unequal pay has a serious affect on women’s ability to be economically secure in retirement. Given that women are usually the ones to jump in and out of the workforce due to care giving responsibilities, they also receive less in Social Security payments once retiring, despite the fact they have earned less already, because of less time in the workforce and unequal pay. Women should not be shortchanged on their income, and thus in retirement, for taking care of their family members who need them.

Even still, women tend to live on average, seven years longer than men and need more financial support in old age to make ends meet. This is another reason equal pay is so important. Though the plight of all retired women struggling to get by would not be solved by equal pay, it would help each of them move closer to economic security. At Wider Opportunities for Women (WOW), the Elder Economic Security Initiative is front and center on the issues regarding elder economic security, and the inequalities of women and the long-term affect this has on retirement. Check out the Single Elder Women Fact Sheet for more information about elder women struggling to get by financially.