177

News

Men’s pension savings exceed women’s by 25 percent

TheCopenhagenPost
June 23rd, 2015


This article is more than 9 years old.

Salary inequality and maternity leave can explain the difference

The men’s pension pot is bigger than the women’s in all the age brackets (photo: Danmarks Statistik)

On average, men have over 120,000 kroner more than women in pensions savings, representing a 25 percent difference in their provision for retirement. This is one of the most striking figures from Danmarks Statistik’s summary of pension savings in 2014.

READ MORE: The Pension Jungle: Check your pension savings threshold

The average pension pot for men last year was 496,000 kroner, while women had on average saved just 376,000 kroner.

Less scope for saving
The national statistics office points to several factors to explain the difference. Firstly, the fact that women’s salaries are generally lower results in typically smaller contributions.

Additionally, women are more likely to lose a large part of their normal salary during maternity leave, which normally lasts longer than paternity leave. And more women than men are homemakers for part of their working life, which results in periods with less scope for saving.

While everyone in Denmark, providing they meet a set of general conditions relating to residence and citizenship, receives the state pension, not everyone saves for a private pension.

For both genders, the proportion of people with a pension plan in addition to the state pension provision is 77 percent.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”