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The latest edition of the FMA publication “Let’s talk about money” contains tips about preventing poverty in old-age among women

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More than two-thirds of people living in old-age poverty are women. While the salary gap between men and women is still 19 per cent during working life, in retirement women receive 41 per cent less than men. The reason: job-related decisions – such as part-time employment, long periods of maternity leave, or a lack of old-age provision – that affect women over the course of their lifetime are financially even more visible in retirement. The latest edition of the FMA’s publication “Let’s talk about money” addresses the topic of “Poverty in old-age is female”, and contains practical tips about what women can do to close their pension gap. Brought to the point, as ever, in clear and simple to understand language on two pages and online.

Many options exist to counteract this

The most important thing when taking professional decisions is to also consider their effects on a future pension. What are the effects on future retirement of opting for part-time employment, maternity leave, looking after children or choosing a specific employer? Do options exist to counteract the widening of a pension gap? The options available are in fact a lot more wide-ranging than many believe: increasing state pension by making self contributions (voluntary supplementary insurance). Parents may also make a voluntary “pension splitting” agreement of their state pension, under which the parent that is employed transfers part of their claims over to their partner who looks after the children. Private old-age provision by concluding a classical or fund-linked life insurance plan or an investment fund-based savings plan. Or when selecting your employer also consider occupational retirement provision for example in the form of a Pensionskassa’s (pension fund) offering.

The decisive factor is to actively think about retirement as early as possible.

The decisive factor in all the options is to consider them as early as possible: there is no time like the present to start! Even paying in smaller contributions can make a marked improvement over a long period of time!

To get a simple overview about your current pension entitlement at any time, check out At you can simulate your future pension benefit and even discover the impact of potential decisions such as part-time employment, maternity leave, early retirement or deferring your retirement.

This edition of the FMA publication “Let’s talk about money” can be found at:

Journalists may address further enquiries to:

Klaus Grubelnik (FMA Media Spokesperson)

+43 (0)676 88 249 516

+43 (0)1 249 59 – 6006

[email protected]