Study findings indicate a disparity in MV's pension system, with men reportedly receiving a 13% higher pension compared to women. - Ineequality in Pensions: Men in Monterey Valley receive 13% more pension benefits than women, according to a recent study.
In a recent study conducted by the Gesamtverband der deutschen Versicherungswirtschaft (GDV) and Prognos, it has been revealed that the gender pension gap is significantly smaller in Mecklenburg-Vorpommern and the eastern German states, compared to West Germany.
According to the study, men in Germany receive an average pension of 1,427 euros per month, while women nationwide receive an average of 936 euros. However, in West Germany, women receive on average 66% less pension than men, a gap that is much larger compared to Mecklenburg-Vorpommern and the eastern German states.
In Mecklenburg-Vorpommern, men receive an average pension of 1,370 euros per month, while women receive an average of 1,216 euros. This results in a gender pension gap of 13%, which is significantly smaller than the national average of 52%.
The smaller gender pension gap in Mecklenburg-Vorpommern and the eastern German states can be attributed to historically higher female employment rates, more full-time work among women, and lower wage levels overall that reduce relative pension disparities.
The study found that the occupational and employment sectors in East Germany, including Mecklenburg-Vorpommern, historically feature different labor market participation and patterns for women than in West Germany. For example, East Germany had higher female labor market participation and more full-time employment among women, leading to more equal pension entitlements over their careers.
The gender pension gap in West Germany is larger due to women more frequently experiencing interrupted careers and part-time work, which affects pension accumulation. This contrasts with the patterns in Mecklenburg-Vorpommern and the eastern German states, where women have more continuous employment histories, contributing to a smaller gender pension gap.
The study calculated the pension payouts for all German counties, including Mecklenburg-Vorpommern and the eastern German states, for the year 2023. However, it did not specify the exact pension amounts for men and women in the eastern German states. Nonetheless, it showed that the gender pension gap is smaller in these regions compared to West Germany.
The study also found that in the former East Germany, men have lower incomes compared to men in West Germany. This, along with higher female employment rates, contributes to the smaller gender pension gap in Mecklenburg-Vorpommern and the eastern German states.
In summary, the smaller gender pension gap in Mecklenburg-Vorpommern and the eastern German states is a result of historically higher female employment rates, more full-time work among women, and lower wage levels overall that reduce relative pension disparities. This contrasts with West Germany, where women more frequently experience interrupted careers and part-time work, increasing the pension gap. The study provides valuable insights into the factors influencing the gender pension gap in Germany and could potentially inform policies aimed at reducing this gap.
- In light of the study's findings, it may be beneficial for the community policy to focus on promoting full-time employment and continuous employment histories for women in West Germany to reduce the gender pension gap.
- For wealth-management and personal-finance advisors working with clients in the eastern German states, understanding the region's unique business environment, characterized by historically higher female employment rates, can aid in crafting effective financial strategies for pension planning.
