Excellent Debra-you exposed so many of the challenges women are up against.
One concern in particular is income security for senior women. I know very few people who will receive a company pension, especially the defined benefit type. CPP pays a current maximum of $860 and only those who work at the maximum contribution level for most of their potential employable years can collect this at age 65. I think there have been a few improvements in the formula to allow for time out of the workforce (i.e. parental leave) but most of the women I know won't be collecting anywhere near the maximum. Society pushes (& economic reality dictates) that basic lifestyles are now "carried" and precarious. The current situation would be much worse if not for the fact that many of today's seniors have equity in their own homes. Will this be true a decade or twenty years from now? So... will we be working until we die? Will anyone hire us? Will they pay us enough to live on?
Wish I'd see these questions before, k'in, because they are all so important.
A lot of people but especially women are not going to have private pensions -- check. A lot of women are going to have very modest CPP earnings -- check, and for all the reasons we know: women's earnings have been, on average, very low; and women are likely to be taking years out of their paid work lives at one time or other to act as caregivers, which means that the CPP takes a real hit. I believe that a majority of women working outside the home no longer qualify for EI or parental benefits.
I am a widow. The survivor's portion of my husband's CPP is larger than the full CPP that I will have "earned," and his CPP was already derisory. And I've been working for forty years, although the labour for some of the last years has been unpaid.
Most of the people I know who are now receiving CPP get about $400/month. Younger people will do better since/if salaries have risen, except by the time they get there, they may find that in real terms, they are in the same situation we are now.
Our public pension system is a joke, and of course things are about to get a lot worse.