Marital Status, Gender, Mortality and Pensions: The Disadvantages of Being Single in Old Age

Abstract

The increase in the number of one-person households, especially among elderly women, the high life expectancy of women at old ages, and the fact that they are more likely to draw lower pensions than men, all may place women in a more vulnerable situation. This article's main aim is to compute from an actuarial perspective the differences in the expected cost of contributory pensions for single (never married) and married individuals who arrive at retirement age with same employment histories, with a special emphasis on the case of women. Assuming the collection of the average pension, both single and married women are in a worse situation than their male counterparts. However, the total amount of contributory pensions for a married woman is up to 22.3 % higher than for a single woman.