Women invest an average of 170 euros per month for their retirement and health care, while men invest 317 euros – this is shown by a survey by Wiener Städtische Versicherung.
Vienna (OTS) – Gender pay gap and gender pension gap are on everyone’s lips when it comes to the different pay or different pension levels for women and men. Now Wiener Städtische is drawing attention to the gender prevention gap on the occasion of International Women’s Day on March 8th. An IMAS survey shows that on average women invest around 46 percent less in their retirement and health care than men. Women currently put aside an average of 170 euros per month, which is significantly more than in 2018, when the value was 93 euros, but the gap to men remains high. “The difference is still striking. “This is doubly negative for women in terms of their pension situation and quality of life in old age, because they receive significantly lower pensions and at the same time make less provision,” says Sonja Steßl, Deputy General Director of Wiener Städtische Versicherung.
Precautionary awareness is higher among women
What is striking, however, is that women are much more aware of precautionary measures than men. When asked what importance financial provision has for them, 90 percent of women answered clearly important and somewhat important, while the figure for men was 81 percent. Women also see the importance of precautionary measures in the future as increasing more than men. The three top reasons for financial provision for the female population are to prepare for possible strokes of fate (69 percent), because you can no longer rely on the state systems (54 percent) and because you also think about your family and children should (47 percent). The last point in particular shows a clear deviation from men (39 percent). “It is a very social virtue of women that they always put the family first, but a healthy egoism is also required, especially when it comes to financial provision.”so Steßl.
Traditional solutions
On the product side, women predominantly rely on traditional forms; savings accounts are in first place with 61 percent, followed by life insurance (41 percent) and building savings (39 percent). This is also reflected in the criteria for selecting pension solutions: the top priority at 51 percent is low risk, followed by flexibility in deposits and withdrawals (47 percent) and transparency (44 percent). The return plays – similar to men – a minor role (32 percent).
Why women do not yet make provisions or do not make provisions is fundamentally related to the different income situations. According to Statistics Austria, the average gross annual income of women is 24,309 euros and that of men is 37,707 euros. In addition, the current inflation development also plays a role: three quarters of the women surveyed who have no pension provision say that it is difficult to make the right pension decision given the current price increase. Two thirds also cite affordability as a reason. But prevention doesn’t have to be expensive; Wiener Städtische offers solutions starting at just 30 euros per month.
#frausorgevor – the Wiener Städtische campaign
Wiener Städtische is committed to the topic of women’s care and is putting the year 2024 in the focus of #frausorgevor. The aim is, in addition to increasing awareness, to also offer concrete solutions. This is what the umbrella brand “Women’s Selection” stands for, which has many offers. “We offer women in every situation attractive and individual solutions to best cover their pension and health needs”said Steßl. This ranges from basic insurance with premium-priced provision for the future, to flexible pension solutions with successful funds, to comprehensive additional packages, such as premium coverage by Wiener Städtische in the event of birth, illness or incapacity to work. When it comes to health care, the focus is on elective doctor and special class solutions.
Information about the Women’s Selection can be found at wienerstaedtische.at/frausorgevor.
You can also find the press release at wienerstaedtische.at
Questions & Contact:
WIENER STÄDTISCHE insurance
Corporate communications
Schottenring 30, 1010 Wien
Christian Kreuzer – management
Tel.: +43 (0)50 350 – 21336
Email: c.kreuzer@wienerstaedtische.at
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