Final answer:
The term describing the greater likelihood of poverty among older women is the "gender pension gap." This reflects systemic gender inequality and is related to the broader "global feminization of poverty," where women disproportionately experience poverty.
Step-by-step explanation:
The greater likelihood of poverty among women in old age is referred to as the gender pension gap. This term highlights the disparity between men and women when it comes to income security in later life. This phenomenon is closely tied to the broader issues of global feminization of poverty, where women bear a disproportionate share of poverty across the world. Several factors contribute to this gap, including lower lifetime earnings due to the gender pay gap, time out of the workforce for caregiving roles, and longer life expectancies for women which require more resources over time.
Notably, the feminization of the aging poor is especially pronounced in peripheral nations. Elderly women in these countries often face the challenges of being single, illiterate, and not a part of the labor force, which can exacerbate their situation. Gender inequality is a systemic issue that contributes to the gender pension gap and is reflected in the high rates of poverty among older women globally.