The gender pension gap in Germany is still considerable. According to the Federal Statistical Office, women receive an average of 27.1% less pension than men. Due to family obligations, women often pay less into the statutory pension insurance scheme, which contributes significantly to the marked difference in pension entitlements. (Sources: Gender Pension Gap 2023: Retirement income of women 27.1% lower than that of men - Federal Statistical Office and Gender Gaps in Germany - UN Women Germany)

The gender pension gap is one of the reasons for the high risk of poverty among women over 65 - more than 20% of this age group are considered to be at risk of poverty, compared to 16% of men. Even though women in eastern Germany tend to have better pension entitlements, the pension gap remains a challenge.

Making private provisions: reducing the pension gap on your own responsibility

Against this background, it is particularly important for women to take responsibility for their own pension provision at an early age. If you start at a young age, you can build up a solid private pension with regular, small contributions. Private pension insurance policies, ETF savings plans or fixed-term deposits with long terms and guaranteed returns are suitable. Such investments not only offer more stable protection, but can often also be adapted to changes in income.

Company and state subsidies: making the most of opportunities

A company pension scheme with tax benefits and employer subsidies can help women to build up additional capital for old age. State subsidy programs such as the Riester pension or the new basic pension for long-term insured persons also offer valuable protection, but are often underused. It is worth examining the best options for your personal situation and making targeted use of them. (Sources: Gender Gaps in Germany - UN Women Germany and wsi_gdp_ek-pensiongap_02.pdf)

Long-term investments: combining security and growth

Long-term investment products also make sense for women who want to expand their pension provision independently of the statutory pension scheme. Investments in tangible assets such as real estate or diversified share portfolios offer opportunities for growth and inflation-proof returns.

With the right knowledge - for example by attending financial courses, reading sound literature or networking with financial experts - and a clear strategy, financial goals can be achieved in the long term.

Financial education as the key to self-determination

The better informed women are about retirement provisions, investments and taxes, the better they can plan their retirement provisions and protect themselves from poverty in old age. At the same time, sound financial knowledge strengthens women's financial independence, enables self-determined decisions and offers security for all phases of life.

FEMWORX supports women in this: with our financial education programs and practical workshops, we impart the necessary knowledge to actively plan and sustainably secure their own pension provision. Our mission is to support women on their way to a self-determined and financially secure future.

Further information can be found at https://www.hannovermesse.de/en/side-events/special-events/femworx/