Equal Pay Day: Why women get less pension than men

Equal Pay Day
Why women get less pension than men and what helps

The event will take place on March 6, 2024 Equal Pay Day instead, which highlights the persistent inequality in pay between men and women. This day symbolically marks the point in the year until which women, on average, have to work in order to earn the same salary that their male colleagues had already received by the end of the previous year. That’s why it doesn’t fall on the same day every year. Which long-term consequences You can read about the salary differences affecting women and what you can proactively do about it in this article.

Effects of the gender pay gap

The Gender Pay Gap, i.e. the gender pay gap, is a stubborn problem that continues to exist despite much progress in society. However, this inequality does not only have short-term effects monthly income of women, but also has a long-term impact on theirs financial security in old age out of. One of the most serious consequences of the gender pay gap is the fact that women on average, significantly less pension received than men. What is frightening is that pensions are often no longer sufficient to maintain the usual standard of living in old age.

In this context one speaks of the Pension gap – a serious challenge that many of us are facing or will face in the future. The reasons for this pension gap are varied. Equal Pay Day draws attention to one of the main factors: On average, women earn less than men over the course of their lives. This is partly because women are more likely to work part-time to meet family obligations or work in industries that generally pay lower salaries. In addition, the so-called “glass ceiling” means that women are less likely to advance to leadership positions and therefore earn less than their male colleagues.

Equal Pay Day is always a nuisance. Because it shows the lack of appreciation of women and especially mothers in our society. It is a structural problem in the economy and politics. […] And that’s why we women have to do it ourselves! Negotiate your salary regularly: Be sure to talk to your male colleagues beforehand about what they earn in order to recognize discrimination in the company.

That recommends Dani Parthumwho also shares her experiences in the Brigitte Academy’s Finance Masterclass.

In addition to confidently negotiating your own salary, it is essential that women make early and active private provisions for their old age. Jessica Schwarzerstock market expert and financial coach in the Finance Masterclass, emphasizes this with the words:

Whether it’s equal pay or the gender pay gap – unfortunately it’s still not very encouraging, even if it’s slowly getting better. But: If you already earn less, you should really step on the gas when it comes to investing and not give up investing on the stock market. We still have far too few female shareholders. We can start trading on the stock market with small amounts of money – with ETF and fund savings plans. Dare! Get started!

Investments in long-term forms of investment such as stocks or ETFs can help women close the pension gap and ensure financial security in old age. It’s time for women to… Control over your financial future take over and not be deterred by existing inequalities. Equal Pay Day reminds us that we must all continue to fight for fairer pay and equal opportunities. At the same time, we want to use this day to encourage you not to leave your finances and, above all, your future to chance.

If you would like to exchange ideas with like-minded women, then become part of it Brigitte Academy. In addition to our extensive courses such as theWe meet regularly in free webinars for the Finance Masterclass. There we encourage and enable women to take their finances into their own hands.Be there on March 13thwhen we show you how you can calculate your pension gap and make effective provisions for your old age.

Register directly here!

Bridget