Why do Dutch women build up 40% less pension on average than men?
Dutch women should be aware of the consequences of the new pension system. Suzanne Kali, a lecturer and researcher in pensions law at the Labour Law and Social Security department, comments on the gender pension gap in an interview with ‘Nationale Nederlanden’.
The ever-present gender pay gap results in lower pensions for women, but this is also due to many women working part-time as well as being over-represented in certain employment sectors. These sectors, for instance healthcare, often have less generous pension schemes than occupations typically held by men. On average, when women retire they have € 400 less a month to spend than men. ‘That's a lot of money’ , says Suzanne Kali in the interview with Nationale Nederlanden.
According to Suzanne Kali, the main reason for the wide pension gap that exists between men and women is that many women work part-time. As a result, they earn less and therefore build up pension over a lower amount. People who work full-time are also more likely to be promoted because they are at work more often and so are more likely to be noticed. But what few people realise is that choosing to work part-time, to care for children for example, has serious consequences when it comes to retirement. This will be even more so in the new pension system in the Netherlands. So, it’s high time people are aware of the impact of this new situation.
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Read the full article (in Dutch) in Nationale Nederlanden
Photo Harli Marten through Unsplash