Most Women Plan To Retire Later, Keep Working

November 30, 2000 ( - Nearly 2/3 of women expect to work in retirement - and 4% never expect to retire, according to the 2000 Women's Retirement Confidence Survey.

Just two years ago, only 57% of women expected to work in retirement, according to the survey, co-sponsored by the nonpartisan Employee Benefit Research Institute (EBRI), the American Savings Education Council (ASEC), and Mathew Greenwald & Associates.

Over half (52%) don’t plan to retire until they are 65 – or older. 

Women cited the following reasons for continuing to work:

  • they enjoy working and want to stay involved
  • additional spending money
  • get to keep health insurance and other benefits
  • have money to make ends meet.

Over Confident?

The 2000 WRCS also found that 70% of working-age women are now confident that they will have enough money saved to live comfortably in retirement. Over half (57%) report that money saved through an employer plan or an employer-provided pension will be a major source of income in retirement.

Only 25% expect Social Security to represent a major source. Over two-thirds (71%) don’t believe they will receive the same level of Social Security benefits provided to current retirees.

On the other hand, less than half (49%) have made an attempt to calculate how much money they will need to have a comfortable retirement.

However, the survey found that while 86% believe they will have enough funds to cover basic expenses, just 64% are that confident about paying for medical expenses, and less than half (47%) have that confidence about long-term care expenses.