German women pensioners receive 26% less than men
A study published on Tuesday showed that female pensioners in Germany receive on average 26% less in pension payments than men.
The gender pension gap means that retired women receive an average of €140 less per month than men. The study estimates that this means that when entering retirement, the average German woman would need around an extra €25,000 ($27,500) in savings in order to close the gap for their retirement.
The research was carried out at the University of Mannheim in collaboration with the University of Tilburg in the Netherlands. The researchers analyzed data from the German Institute of Employment and Research (IAB) to determine not only the extent of the age gap but also how much a working woman would have to save in order to close it.
Female labor force ‘drastically lower after giving birth’ According to the study, the gap begins to widen at around the age of 35. Until this point, men and women are on similar trajectories to receive nearly-identical pension plans. However, men and women begin to differ drastically from age 35 onwards until, for those in their final years before retirement aged between 46 and 67, women are set to receive more than a quarter less than men.
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