Towards Improved Retirement Savings Outcomes for Women
Labour market inequalities are well-known to be the main drivers of the gender pension gap. This publication focuses on helping governments find solutions for retirement savings arrangements that do not further exacerbate these inequalities. This study first analyses why the gender pension gap exists and sheds light on some of the behavioural and cultural factors that contribute to these inequalities. Country case studies assess how demographics, labour markets and other factors may affect gaps in pension coverage, assets and entitlements. The study then explores how the design of retirement savings plans affects men and women differently. Finally, it provides policy options to improve retirement savings outcomes for women and to help close the gender pension gap.
Foreword
The gender pension gap, or the fact that women tend to live on a lower income in retirement than men, is well-known and is usually measured by combining all sources of pension income, whether public or private, pay-as-you-go or funded. However, little is known about the specific contribution of funded and private retirement savings arrangements to this gap. Given the growing weight of retirement savings arrangements in the provision of retirement income around the world, understanding how they may contribute to the gap today and into the future is of paramount importance.
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