Our pension system is gender? Anna and Miriam want to know.

34 percent less Pension for women

* Women currently in Austria to 34 percent less
Pension than men

* Lower pay, children’s education and care activities as the main causes

Anna and Miriam are both late 20’s, in their professional life and to think about the future. The common Thinking, as it will be later, they end up involuntarily on the subject of Pension. And then it clicked: „our pension system is gender?“, the other two questions. „Is there a reason why we get so much less in Pension than our partners or work colleagues?“

Women get an average of 34 percent less in Pension than men. 539 Euro fraud in 2017 in Austria, the Gender Pension Gap – the difference between pensions for men and women. While the average male Pensioner finds each month 1.577 euros to his account, the average old-age pension of women only 1.038 euros.

Lower income, children’s education and care as causes
The reason for this lies not only in the base pay. Women earn in Austria, on average, still make less than men. The reasons for this are diverse and range from gender discrimination in pay up to the basic tendency that women more often jobs with low earnings possibilities. A further, very significant role in the working time model plays. In Austria, 48 per cent of the workforce work women in part – time for men is only 12 percent.

Higher part-time employment rates of women are in direct connection with a reduced Pension. And here, only the children’s education does not play a role, but also the care of relatives. Both of which, as before, the primary task of the women. The care of children or dependent will be called in the age group between 25 and 49 years, 55 percent of women as a reason for part-time employment.

Anna knows already today: your Pension will be up to 376 Euro lower
Anna is 29 years old and has completed a vocational high school. Since 10 years she works full-time as an Office assistant and currently earns 1.710 euros net per month. She also works in the future, full-time, it may be expected, from today’s point of view, so that it will correspond approximately to their Pension. It will be exciting but when comparing with your work colleagues, Anton. He has the same training, but it seems for the same work, due to unequal pay 140 euros more Pension. Anna thinks about children. And the difference is apparent: The longer Anna remains on maternity leave or works part-time, the greater the difference is. It rises to 12 years – only 5 years maternity leave, then part – time back into full professional life, she knows already today: I get just under 380 euros less Pension.

Miriam must realize that you will later on have a good 600 Euro per month less
Miriam is 29 years old. She has completed a course and earned a monthly net 1.913 euros. In the case of continuous full-time employment Miriam can only expect a Pension of well of 2,080 Euro. You think about starting a family, but at the same time: it Rises to 12 years – only 5 years maternity leave, then part – time back into full working life, will reduce their Pension to almost 1,700 euros. Moritz, the father of two children, has also studied and a similar profession, such as Miriam – and at the end of a good 600 Euro more Pension than Miriam.

Part-time employment of women and children’s education are linked in Austria. Financial impact on the retirement savings are hidden in society and politics, but for the most part. This leads to significant Differences in pensions between men and women. Anna and Miriam to ask, therefore: Is the pension system in a gender-appropriate manner?

More Details in the Video

Anna: [https://youtu.be/JaOvq6LqOJA] (https://youtu.be/JaOvq6LqOJA)

Miriam: [https://youtu.be/IXVvDqNjGMU] (https://youtu.be/IXVvDqNjGMU)

Gregor Bitschnau
UNIQA Insurance Group AG
Group Communication
+43 (0)1 21175 3440
+43 664 88915564
gregor.bitschnau@uniqa.at