Closing the Gender Income Gap from Paycheck to Pension

This report by Allianz Research examines the persistent gender income gap, focusing on the disparities in pay and pensions between men and women. It outlines how the unadjusted gender pay gap has decreased from 21% in the early 2000s to 13.7% in 2024 across OECD countries, while female labor-force participation has risen to 71%. However, significant structural issues remain, such as women working fewer hours and experiencing more career interruptions, leading to a 23.7% lower pension income compared to men. The report presents a lifecycle model that tracks income disparities across cohorts, revealing a decline in lifetime income gaps from 33% for those born in 1975 to 16% for those born in 2000. It also highlights the need for structural changes in public policy to address these gaps, including affordable childcare and support for continuous employment. The report concludes that closing the gender income gap requires focused efforts on both labor income and pension design to ensure equitable conditions for future generations.