November is National Family Caregivers Month. Caregiving is especially important to women because they disproportionately provide and receive caregiving. It is estimated that one-in-four women ages 55 or older provide some form of unpaid caregiving.

The National Committee strongly believes that the services provided by caregivers should be acknowledged for the work that it is. As anyone who has ever cared for someone knows, it is about the hardest job anyone ever has to do.

  • Across the course of a year, the average woman aged 55 or older provides the equivalent of more than five weeks of full-time, unpaid care to family members and friends.
  • These older women account for more than one-third of all people providing unpaid eldercare on any given day, and one-fourth of people providing any form of unpaid care.  They also account for about eight percent of all people providing unpaid childcare.
  • As a result of a lifetime of caregiving, mothers in particular earn 15 percent less during their lifetimes than they otherwise would.

The higher likelihood of caregiving is one factor contributing to women’s reduced income security in retirement. Women’s lifetime earnings are generally lower than those of men.  They get paid less on average than men. Additionally, women are less likely than men to have an employer-provided pension. On top of this, many women are penalized for time off for caregiving in the form of reduced Social Security benefits and employer-based retirement plan benefits.  Older women are especially likely to live in poverty, and caregiving responsibilities are a significant contributing factor.

This is why the National Committee has endorsed the Social Security Caregiver Credit Act. For purposes of calculating an individual’s Social Security benefit, the Caregiver Credit Act would bridge the gap in earned income credits by taking into account the unpaid caregiving provided to certain family members for at least 80 hours a month.

The National Committee also supports the reauthorization of the Older American’s Act, which in addition to providing the primary source of funding for meal programs for seniors also provides resources for caregivers including counseling and respite care.

Eleanor’s Hope encourages all caregivers to contact their members of Congress and ask them to support the Social Security Caregiver Credit Act and the reauthorization of the Older Americans Act.

Sources:

https://www.dol.gov/sites/dolgov/files/WB/2023OlderWomenUnpaidCaregiving.pdf