For every dollar of retirement income men receive, women get only 83 cents.
The gender pay gap is the gift that keeps on giving. Women make less than men during their working years and that differential continues into retirement.
Janine Rogan, a Calgary-based certified professional accountant and author of The Pink Tax: Dismantling A Financial System Designed to Keep Women Broke, sees this pension gap as an extension of the so-called pink tax, which is the tendency for products marketed to women to be more expensive than those marketed towards men.
It’s not that women are more negligent when it comes to their financial futures, says Ms. Rogan. Societal expectations and familial responsibilities have a lot to do with it. “Oftentimes, it’s the woman’s responsibility to pay for childcare or summer camp or school . He often pays the mortgage,” says Ms. Rogan. It may go unnoticed when women give their kids lunch money or run to the drugstore run for an aging parent. But those costs deplete women’s ability to save.
“It’s often very limited, so you have to buy it back within six months or a year,” says Ms. Philp. Even if the deadline is tight, she suggests doing it anyway. She also encourages women to advocate for policies that offer more time.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The gender pension gap: Even after works ends, women must make do with lessFor every dollar of retirement income men receive, women get only 83 cents
Read more »
Henderson in contention at CPKC Women's Open after even opening roundCanadian Brooke Henderson finished her opening round of the CPKC Women's Open at 72-even from Earl Grey Golf Club in Calgary.
Read more »
Even on quiet summer weekends, huge news stories spread to millions more swiftly than ever beforeJames Peeler's phone blew up with messages as he drove home from church in Texas. Reading a book on her couch in Lancaster, Pennsylvania, Wendy Schweiger spied something on Facebook.
Read more »
17 Miraculous Kitchen Cleaning Products For Even The Messiest CooksLourdes Avila Uribe is a senior staff writer at HuffPost covering shopping trends, lifestyle and new products. She grew up in Los Angeles, California, and now resides in New York City.
Read more »
Even on quiet summer weekends, huge news stories spread to millions more swiftly than ever beforeJames Peeler's phone blew up with messages as he drove home from church in Texas. Reading a book on her couch in Lancaster, Pennsylvania, Wendy Schweiger...
Read more »
Philippines grapples with rising HIV rates, even as infections fall across most of the globeWith attitudes toward sex liberalizing in the country and teenagers having sex increasingly earlier, there is a recognized need for better education about the risks of sexually transmitted infections
Read more »