23 Facts About Women's Retirement Outlook

Today’s women are better educated and enjoy career opportunities that were unimaginable 50 years ago. Despite this progress, women lag behind men when it comes to saving and planning for retirement. A woman’s path to a secure retirement is filled with obstacles, such as lower pay and time out of the workforce for parenting or caregiving, which can negatively impact her long-term financial situation. Statistically, women tend to live longer than men, which implies an even greater need to plan and save.

23 Facts About Women’s Retirement Outlook illustrates how women workers are juggling competing priorities, financially preparing for the future, and facing risky retirement prospects. This research report also offers comparisons with men. The accompanying fact sheet outlines the 23 facts and offers 11 tips for women.

This report marks the 18th consecutive year that our organization has published research that illustrates women’s retirement-related risks along with actions to help mitigate them. The goal of the research is two-fold: 1) to raise awareness of the retirement risks that women are facing, and 2) highlight opportunities for women to take greater control of their finances and their future.

The report is based on findings from the 23rd Annual Transamerica Retirement Survey conducted in 2022 including more than 5,700 workers of for-profit companies.