Tue. Apr 23rd, 2019

26,800 million, economic impact of the gender gap in pensions

26,800 million, economic impact of the gender gap in pensions


Nobody doubts already that the gender gap has a huge impact on the Spanish economy, with figures that are almost 27,000 million euros. Specifically, 24,500 correspond to the difference between the pensions that women charge with respect to men, and the remaining 5,300 is what the Tax Agency would stop entering: 2,422 would fall from the IRPF (2.2% of the total paid) ) and 2,884 million in VAT not collected (2.2%), due to the inexistence of a potential economic activity. These are some of the conclusions published by the business platform ClosingGap in your study 'Opportunity cost of the gender gap in pensions', presented in Mapfre Foundation. The report has also calculated the impact of the gender differential in terms of employment: 414,600 jobs that stopped being created, equivalent to 2.1% of the total employed in Spain.

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Although the gap between men and women has been gradually reduced in the new pension increases, by increasing the number of them contributing their own contribution, women charge 422 euros less on average than men (740 euros per 1,162, a 36.3% differential).

"The gender gap in pensions is especially damaging to women because their greater health problems, given their greater longevity, and their lower contribution create an inequality that must be corrected," said Antonio Huertas, president of Mapfre in the presentation.

The interruption of the work trajectory of women is another of the main determinants of the smaller amount in the pension received, produced, basically, by three gaps in the contribution: labor interruption due to maternity, child care (which can be extended up to 12 years) and long-term unemployment. Therefore, the contributory pension received by a woman with a low educational level who decides to interrupt her career during the years that compute the contribution to receive the pension will be 10% less than if she had not interrupted it, a percentage that for women with a high level of qualification it supposes an even higher figure: up to 18%. The report emphasizes that in 2018, 11.3% of women between 35 and 44 years of age would have generated unemployment contribution gaps due to the economic crisis.

The study also points out that the current cost of care for women over 80 years of age represents 2.3 times the amount of their average pension, while in men it is 1.3 times.

Marieta Jiménez, president of ClosingGap, closed the event with a call to equality: "These data show the long road still to be traveled in all stages of life, but especially in the last section the most vulnerable."

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