Fewer women included in pension plans
Women workers are less likely to be pension plan participants than men, reports the American Council of Life Insurance. Citing a study published by the US Department of Labor, the council noted that while 55 percent of all male full-time workers in private industry were covered by pension plans, only 40 percent of all full-time female workers were so covered.
According to the Labor Department, the lack of pension coverage among women is often due to the type of jobs they hold.
For example, women are concentrated in industries that are less likely to provide pensions. The retail and service industries, which employ half of the women employed in the private sector, have the lowest pension coverage.
And while employees in unions usually have pension coverage, me n are more likely to be union members than women.