Gender Gap Archives - Page 6 of 16 - Pension Policy International

28JulJuly 28, 2022

Gender Pay Gap Report 2021: Reporting our progress

By Legal and General In 2021, we have once again seen a continued, progressive narrowing of our pay gap, from 26.6% to 24.1%. This progress reflects the focus we have applied over the past year to creating a more diverse workforce and a more inclusive workplace where everyone can succeed. In this report, we share our latest gender pay gap data and update stakeholders on the steps we’re taking to narrow the gap further. Monitoring and reporting the gap over...

July 28, 2022

Books, Labor Market2022, Equality, Gender Gap, UK

28JulJuly 28, 2022

UK. Pensions gender gaps exist across several industries, research finds

Women’s pension savings at retirement are less than half the size of men’s, according to a financial services provider’s analysis of its workplace pensions data. Legal & General analysed more than 4.5 million defined contribution (DC) workplace pension savers. When looking at thousands of people who retired last year, it found that women had typically built a pot of £12,000 at retirement, while men had £26,000 put away. The findings did not take into account any savings which may be placed elsewhere,...

July 28, 2022

News2022, Gender Gap, UK

26JulJuly 26, 2022

US. ‘True Cost of Aging’ index shows many seniors can’t afford basic necessities

Each month, Seeley, a retired teacher, gets $925 from Social Security and a $287 disbursement from an individual retirement account. To make ends meet, she’s taken out a reverse mortgage on her Portland, Maine, home that yields $400 monthly. So far, Seeley has been able to live on this income—about $19,300 a year—by carefully monitoring her spending and drawing on limited savings. But should her excellent health worsen or she need assistance at home, Seeley doesn’t know how she’d pay...

July 26, 2022

News2022, Gender Gap, Income, US

30JunJune 30, 2022

Spillover Effects of Old-Age Pension Across Generations: Family Labor Supply and Child Outcomes

By Katja Kaufmann, Yasemin Özdemir & Han Ye We study the impact of grandparental retirement decisions on family members' labor supply and child outcomes by exploiting a Dutch pension reform in a fuzzy Regression Discontinuity design. A one-hour increase in grandmothers' hours worked causes adult daughters with young children to work half an hour less. Daughters without children, with older children and sons/daughters-in-law are not affected. We show important long-run impacts on maternal labor supply and on the child penalty....

June 30, 2022

Articles, Labor Market2022, Equality, Gender Gap

30JunJune 30, 2022

DC 2.0: Three Paths To More Equitable Retirement Programs

Among C-suite and financial executives at both for-profit and nonprofit organizations, 99% are committed to helping employees save for retirement and 84% believe they have made significant progress toward achieving their organization’s diversity, equity, and inclusion (DEI) goals. That’s according to a December 2021 PNC Survey on institutional social responsibility. Despite these commitments, many employees remain underprepared for retirement. Specifically, low-income workers, women, and people of color tend to have significantly less access to retirement plans, and when these groups...

June 30, 2022

News2022, Equality, Financial Inclusion, Gender Gap, US

28JunJune 28, 2022

US. Gender gaps in retirement readiness and financial know-how persist, despite strides made by women in last 50 years

Despite the economic and professional gains made by women over the last 50 years, gender gaps persist — and not just in rate of pay. Retirement readiness and financial know-how are key areas with notable gaps, according to two studies recently released by the TIAA Institute. For example, among workers in TIAA’s system, men contributed a median $8,271 to their workplace retirement plan in 2020, compared with $5,994 for women. While that 27% gap is less than the 34% difference...

June 28, 2022

News2022, Gender Gap, Labor Market, US

24JunJune 24, 2022

Financial Literacy, Gender and Investment Choices

By Xin Wen, Zhiming Cheng & Massimiliano Tani Over the past thirty years Chinese households have enjoyed substantive increases in income and savings and witnessed a rapidly developing financial market offering investment choices and risks away from bank deposits – the traditional form of financial investment. We explore whether this evolving landscape has been advantageous to every investor or mainly those with better financial literacy, by focusing on the portfolio decisions of the household head, by gender. Using data from...

June 24, 2022

Articles, Investment, Pension design, Savings2022, China, Financial Literacy, Gender Gap

10JunJune 10, 2022

The Gender Pensions Gap Report 2022 … and how to close it

By Joanne Segars OBE & Samantha Gould Lower incomes throughout a woman’s working life will invariably impact their pension savings, creating an obvious pension gap. Furthermore, women who take time away from work to have children or for other caring responsibilities contribute to the widening gulf that we see between men and women’s pension wealth. Three million women are effectively “locked out” of workplace pension saving because they do not meet the £10,000 auto enrolment eligibility criteria. We are on a mission...

June 10, 2022

Books, Labor Market, Reports, System Characterization2022, Equality, Gender Gap, UK

08JunJune 8, 2022

UK. Women Need Extra 18 Years of Work to Equal Pension Savings as Male Peers, Survey Finds

Women would need to work an additional 18 years full-time to save the same amounts of money into their pensions as men, research suggests. Women aged 65 will typically have accumulated £69,000 in private pension wealth, compared with average men's savings of £205,800, according to workplace pension provider Now: Pensions and the Pensions Policy Institute (PPI). With women living on average four years longer than men, they need to save more throughout their lifetime to accommodate longer periods in retirement, the...

June 8, 2022

News2022, Gender Gap, Pension design, savings, UK

19MayMay 19, 2022

UK. MPs urged to consider state auto-enrolment credits to combat gender pensions gap

State auto-enrolment (AE) contribution credits for career breaks could “radically change” the framework of occupational pensions and help reduce the inequality of the widening gender pensions gap, Hymans Robertson has said. In an open letter to the Work and Pensions Select Committee, Hymans Robertson partner, Chris Noon, argued that whilst the introduction of AE contribution credits would be a "significant cost" to government, time away from work is the biggest contributor to the gender pensions gap and needs to be...

May 19, 2022

News2022, Gender Gap, Pension design, Regulation, UK

July 2022

Gender Pay Gap Report 2021: Reporting our progress

UK. Pensions gender gaps exist across several industries, research finds

US. ‘True Cost of Aging’ index shows many seniors can’t afford basic necessities

June 2022

Spillover Effects of Old-Age Pension Across Generations: Family Labor Supply and Child Outcomes

DC 2.0: Three Paths To More Equitable Retirement Programs

US. Gender gaps in retirement readiness and financial know-how persist, despite strides made by women in last 50 years

Financial Literacy, Gender and Investment Choices

The Gender Pensions Gap Report 2022 … and how to close it

UK. Women Need Extra 18 Years of Work to Equal Pension Savings as Male Peers, Survey Finds

May 2022

UK. MPs urged to consider state auto-enrolment credits to combat gender pensions gap