Some of The World’s Biggest Pension Systems Are Failing Women
- Covid-19 crisis risks widening retirement savings gender gap
- Women are being disproportionately hit by slowdown, OECD says
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Even before Covid-19 shuttered economies across the world, many women faced retiring with less savings than men. Now, that gap is set to widen further in some of the world’s biggest pension systems.
Women already typically earn less than men and take more time out from the workforce to have children, resulting in diminished pension pots. And as coronavirus lockdowns smash industries such as air travel, tourism, retail and hospitality, they face a disproportionate risk of losing their jobs, according to the Organisation for Economic Cooperation and Development.