Gender gap in pensions
Today, the public pensions system spends almost €24.5 billion less on women than on men.
The average state pension for women is €740.2 compared to €1,162.3 received on average by men. This difference of €422.2 increases to €450.1 for retirement pensions.
The career path of women is one of the main determinants of the lower amount of pension received and leads, on the one hand, to gaps in contributions due to maternity and childcare and, on the other hand, to gaps in contributions due to long-term unemployment.
Calculation of opportunity cost
The opportunity cost is calculated based on the figure corresponding to Gross Value Added (GVA) derived from a reduction in the consumption capacity of women pensioners, who receive lower pensions than men. This leads to reduced tax collection by the tax agency, which equates to €2.42 billion in income tax (2.2% of the total revenue) and €2.88 billion in VAT (2.2% of revenue) which was not collected in 2018 due to the absence of this potential economic activity. In terms of employment, 414,600 jobs were not created. Therefore, the economic impact exceeded €26 billion in 2018, 2.2% of GDP.
All gender gaps are unacceptable; however, the pension gap is particularly harmful to women because their longevity and health care needs are even greater. This inequality is being corrected, but this process must be accelerated for the sake of fairness to individuals and its impact on the economy.
ClosinGap y Telefónica analizan el coste de oportunidad de la brecha de género en las profesiones digitales
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