Female, Not Male, Same Sex Couples Have Less Retirement Income Than Straight Couples
A study by Naoimi Goldberg of the UCLA Law Williams Institute says that same sex couples have less retirement income than straight couples, but only if they're women. The study was the first to look exclusively at elderly (65+) gay couples.
The study makes numerous findings, but three of them particularly interested me:
1. Female couples rely less on employee-sponsored pension plans.
They're offered the plans less: while 50% of female same sex couples have at least one member eligible for such a plan, 56% of straight couples and 79% of male same sex couples do.
And they participate in the plans less too: only 46% of female couples have one member participate, compared to 52% in opposite sex couples and 69% in male couples.
2. Female couples rely more on social security for income.
Social security makes up 36% of female couples' income, but only 33% of straight couples' and 31% of male couples'.
Even then, female couples get about 15% less in social security payments. Overall, female couples make about 20% less than opposite sex ones.
3. Male same sex couples make more money during retirement.
But this doesn't come from retirement income (social security, retirement plans, rentals, and dividends). Male couples are 21% less likely to have income from those sources.
On the other hand, they're 60% more likely to to have wage income at retirement age. This suggests they don't retire as early as opposite sex and female couples.
Check out the study [PDF] to read about more about the differences in retirement income between male and female same sex couples.
