Saturday, 15 March 2025
A recent study conducted by Verivox has found that 89 percent of Germans believe women are financially disadvantaged compared to men. The perception of inequality is particularly strong among women, with 94 percent agreeing that they are worse off financially. Among men, 84 percent share this view. The study highlights concerns about salary disparities, pension gaps, and career interruptions that disproportionately affect women.
Sandra Vollmer, Managing Director of Verivox GmbH, points out that women often face lower wages, a higher share of part-time employment, and longer career breaks due to family responsibilities. She notes that these factors not only impact financial stability during a woman’s working life but also extend into retirement, increasing the risk of financial insecurity in old age. She emphasizes that Equal Pay Day serves as an important reminder that closing the wage gap is a fundamental step toward gender equality.
Concerns about financial security in retirement are particularly pronounced among women. The study found that 48 percent of women rate their retirement provisions as poor or very poor, while another 12 percent are unsure about their financial outlook. Only 40 percent believe they will be financially stable in old age, with just 5 percent expecting a very comfortable retirement.
In contrast, men are significantly more optimistic about their financial future. The study found that 58 percent of men believe they will be financially secure in retirement, compared to 40 percent of women. At the same time, 36 percent of men fear that their savings may not be sufficient, a concern that is more prevalent among women.
When asked about potential solutions to financial inequality, respondents identified three key measures: better childcare services (64 percent), stronger equal pay legislation (61 percent), and more flexible working time models (59 percent).
More broadly, financial insecurity in retirement is a concern for 76 percent of Germans, affecting both men and women equally. However, 32 percent of women expect significant financial restrictions after retirement, compared to 26 percent of men. Meanwhile, only 14 percent of women and 19 percent of men believe they will face no financial limitations in retirement.
Vollmer advises that women should assess their financial situation early and take proactive steps to secure their financial future. She suggests that open discussions about financial planning—whether with partners, family, or friends—can help address economic imbalances. In some cases, couples agree on financial compensation for unpaid care work, which can help mitigate long-term financial disadvantages. Recognizing and addressing these gaps early, she adds, is crucial for achieving greater financial security in later life.
