The New Social Contract: Achieving Retirement Equality for Women

A new report from the Aegon Center for Longevity and Retirement, the Transamerica Center for Retirement Studies, and the Instituto de Longevidade Mongeral Aegon finds that the persistent gender pay gap, coupled with traditional societal norms and gender roles, are placing women at a disadvantage in terms of saving and planning for retirement.

The life course of women fundamentally differ from those of men. Societal norms and expectations, like marital norms, childbearing, family responsibilities, and caregiving responsibilities, often create very real barriers for women and their ability to be self-reliant and prepare for their long-term financial security. Women are more likely than men to take extended periods of time out of the workforce, thereby limiting both their ability to save, and foregoing the wider benefits that can come with employment. According to the report, less than a quarter of women workers believe they are on course to achieve their retirement income needs.

Based on an annual survey of 15 countries spanning Europe, the Americas, Asia, and Australia, the new report provides actionable recommendations to put women at the center of the solution:

  1. Start saving early and save habitually
  2. Develop a written retirement strategy
  3. Create a backup plan for unforeseen events
  4. Adopt a healthy lifestyle
  5. Embrace lifelong learning

 

 

Latest Developments

We keep our members and partners in touch with the most recent updates and opinions in the worldwide dialogue on population longevity and related issues.

Ignoring the ‘Silver Economy’ May Be Getting Costly for Brands

In an ad for Airbnb that premiered earlier this year, a couple checks into a cozy Spanish villa. To the tune of Jay-Z's cover of "Me and My Girlfriend," the ad shows the pair settling into their rental and setting their collective dial to chill. They play ping-pong, sip some wine, and get ready for a night on the town. They're also in their 80s, celebrating their 57th wedding anniversary. In no way does the ad characterize the couple as elderly or portray them as needing special aid or services — they are just active people who happen to be old. It's a rare example of ads featuring a realistic depiction of aging.

Health Equity Promise and That Innovation Thing

President Biden has pledged his administration to defeat cancer, Alzheimer’s, and other diseases that target America’s aging population. To achieve these lofty goals, bold words must be backed up by bold actions.

Roundtable Report Highlights Importance of Immunizing Canada’s Caregivers Against Influenza, Identifying Challenges and Opportunities to Protect This Critical Group

The Global Coalition on Aging (GCOA) today released a report summarizing key insights from an expert roundtable on vaccinating Canada’s caregivers against influenza. The roundtable, held virtually, brought together leading Canadian health policy experts, family caregivers, patient advocacy groups, aging experts, and other thought leaders to discuss challenges and strategies to reach this critically important yet hard-to-reach group.

Women, Work, Wellness, and That Aging Thing…

The OECD Forum’s virtual event Women at The Frontline of the Recovery will presciently focus attention among policymakers and the public stakeholders alike on the unique relationship between the age demographic mega-trend and the essential policies needed for OECD economies to emerge from the COVID-19 pandemic.

Headlines of the Future Podcast: Decoding Healthy Aging

How can advancements in science and medicine make it possible for individuals to enjoy greater health and activity in their later years? For health leaders and organizations such as the Global Coalition on Aging, ensuring individuals can truly shine in their "Golden Years" is a matter of revisiting education and communication strategies, advancing digital health technologies and expanding access to healthcare innovation.

Longer Lifespans Require Secure Financial Futures

As many as half of 5-year-olds in the United States can now expect to live to 100, a population that is projected to swell in the decades ahead. Longer lifespans don’t guarantee a financially secure later life, however. If anything, in the absence of significant planning, extreme longevity may make financial security harder to attain.