Key facts
- Women in the EU receive 24.5% less in pensions than men.
- The gender pension gap in the EU is more than double the gender pay gap.
- The gender pay gap in the EU is 11.1%.
- Career interruptions contribute to lifetime earning disparities for women.
- Unpaid care work contributes to lifetime earning disparities for women.
A substantial gender pension gap exists within the European Union, with women receiving 24.5% less in pension income compared to men. This figure starkly contrasts with the gender pay gap, which stands at 11.1%, indicating that the disparity in retirement income is more than twice as large as the disparity in current earnings. Experts point to several contributing factors that create and exacerbate this gap over a woman's lifetime. These include frequent career interruptions, often necessitated by the need to undertake unpaid care work, such as looking after children or elderly relatives. Such breaks in employment not only reduce immediate earnings but also impact long-term career progression and pension contributions. The cumulative effect of these disparities in lifetime earnings directly translates into smaller pension pots for women upon retirement, leading to greater financial insecurity in their later years. The issue highlights systemic challenges that affect women's economic participation and security throughout their working lives and into retirement.