Women and Economic Security in Retirement:Implications for Social Security Reform

Gender-related parenting roles lower incomes of women during the working-age years and in retirement years. National retirement income programs contribute to this gender-related difference in retirement income to the degree that they consider lifetime earnings in calculating benefits. This article examines two national pension systems: those of Australia and Sweden. The pension systems of these two countries often are considered as the extremes of pension generosity, and they are based upon different philosophies about the role of government in insuring against economic risk. Due to fiscal issues and the changing roles of women in the labor market, both have reformed their systems. How system reforms can balance the role of the government in insuring against income risk and the growing financial independence of women in the work force are discussed.