As women leave workforce, how that affects Social Security benefits

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Covid-19 prompted many women to leave the workforce.

That’s because many women were forced to choose between working and taking care of their children and families amid a pandemic often opted for the latter.

The difference in earnings and career prospects can be seen immediately. And it could also have implications for women’s retirement security.

One consolation, according to a report from the Center for Retirement Research at Boston College, is that income from Social Security in retirement may help bridge the income gap between mothers and childless women.

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And changes to Social Security — particularly with regard to caregiver credits — could help even more.

How Social Security helps mothers

How caregiver credits could increase benefits

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