Deposit gender gap keeps reducing at Danish academic pension fund
The Danish pension scheme for the academic sector AkademikerPension observed that women members’ pension deposits are progressively catching up with these of men. At the end of 2020, the size of overall women’s contributions to the fund was still 10.9% lower than that of men’s but it formed a 2.8% cut in comparison to 2017. AkademikerPension’s data suggests the average contribution for an active female worker was DKK 5,939 in 2020 (vs. DKK 5,567 in 2017) and that for an active male worker DKK 6,318 (vs. DKK 5,953 in 2017). Hence, the gender gap in average deposits reduced to 6% at the end of 2020 from 6.5% in 2017.
AkademikerPension said the trimming of the gap was particularly visible in contributions of women members aged under 49 years old. In 2020, they paid an average of DKK 5,725 in monthly pension contributions, while the corresponding figure for men was DKK 5,956. Thus, the gender gap there dropped to 3.9% in 2020 from 4.3% in 2017.
“It is a very positive trend we are seeing. Women generally pay more, but especially the younger women have become aware of getting their savings into retirement,” commented AkademikerPension’s CEO Jens Munch Holst. He recalled that the Danish pension scheme had carried out meetings and presentations around women and pensions across Denmark in 2019. “I hope it has helped make a difference to the trend we are seeing now,” he said.