Survey sheds light on retirement saving patterns for women amid pandemic

Catherine Collinson of Transamerica Center for Retirement Studies at Marketplace Studios in Los Angeles, CA. (Photo credit: Transamerica Institute)

Catherine Collinson, the CEO and president of nonprofit Transamerica Institute and its operating division Transamerica Center for Retirement Studies, says over the past 50 years women have tremendous strides in terms of educational attainment and career opportunities — but a retirement savings gap remains.

Data suggests that 50% of women ages 55 to 66 have no personal retirement savings, compared to 47% of men.

In addition, women who are saving for retirement aren’t saving as much as men.