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Study on the Gender Pension Gap

“Especially in times of Corona, women are putting their own needs more behind those of the family again. You reduce working hours to take care of children or older relatives, ”says Laura Gersch, Head of Corporate Customers and Human Resources at Allianz Leben. But very few consider what that means for them in the long term.

This reinforces a development that led to a drastic imbalance in provision for old age even before the Corona: women estimate the gap between women and men in provision, at an average of 25 percent, is clearly too low. In fact, according to Eurostat and OECD, the pension difference is 36 to 46 percent.

Ignorance has consequences

In any case, very few Germans know exactly what income they can expect in old age. Of the women interviewed in the study, 59 percent said that they neither know the amount of their future pension payments nor have an overview of possible further income. "There is hardly any difference between men and women," says Gersch.

“However, the effects of this ignorance are grave. Men are much more likely to have complete employment histories. You not only pay more stable into the statutory pension insurance, you also benefit more from offers of the company pension scheme and more often take out private pension contracts. "

The women surveyed gave numerous reasons for not addressing the issue of pensions: too little money, no information, too little time, to name just a few. “These arguments are by no means new in the discussion about old-age provision. However, they are all too often dismissed as protective claims by customers, who are misleadingly assumed that they do not even want to make provisions for their old age. "

"That doesn't solve the problem for those affected," says Gersch. Anyone who grapples with these arguments will develop solutions for provision with a completely different focus. "We have done exactly that in recent years and supplemented the product range, for example, with pension solutions with flexible co-payment options," says Gersch.