The Senate Special Committee on Aging held a hearing yesterday on Enhancing Women's Retirement. The hearing featured a report by the Government Accountability Office (GAO). There is much in the report that is interesting but not directly relevant to the subject of this blog, such as the fact that the poverty rate among married women and men 65 and older is 3%, while the poverty rate in this age group among separated men is 20% and among separated women it's 22%. Also, Asians 65 and older have a higher poverty rate than whites, blacks or hispanics. Didn't see that one coming. Of relevance to Social Security are these facts:
- The majority of women claim Social Security retirement benefits at 62 - the earliest age possible.
- Only 18 percent of women wait until their normal retirement age of 66 or later.