Abstract
The objective of this work is two-fold: first, to ascertain whether the application of European Union laws (Directive 2004/113 and Directive 2006/54) governing defined-benefit employment pension plans and incompletely insured but funded pensions was, in fact, discriminatory in several countries, namely France, Germany, Italy, Spain, Sweden and the United Kingdom. Having found that such discrimination was the case, our second goal is to calculate the cost of that discrimination to the employers.
It is found that the discriminating effect emerged regardless of whether same-gender or different-gender tables were used for calculating benefits; furthermore, the level of discrimination was seen to rise in tandem with the retirement age. This phenomenon can be ascribed to the survival rate of women being higher. The actual cost of the discrimination was determined by isolating the effect of the interest rate and creating ad hoc survival charts that would eliminate the bias inherent in insurance-company tables. These two presentations of data are expressed both in terms of annuity per unit and of GDP, projected until 2015.
Keywords
gender discrimination pension plans funded pensions actuarial repercussions of gender biometric behavior EU laws
References
- Eylenbosch, A., (1996), “Equal Treatment for Men and Women in Complementary Pensions: Answers or Unresolved Questions?”, Journal of European Social Policy, Vol. 6. Nº2, pp. 123-146.
- González-Rabanal, Miryam de la Concepción and Luis Mª Sáez de Jáuregui Sanz, (2006) La Política Comunitaria Contra la Discriminación de Género: Una Propuesta de Evaluación de Su Coste en los Planes y Fondos de Pensiones de Empleo. Su Aplicación al Caso Español. Madrid, IEF.
- Luckmans, L., (1997), “Equal Pension Rights for Men and Women: A Realistic Perspective”, Journal of European Social Policy, Vol. 7, Nº 2, pp. 237-253.
- Marier, P., (2007), “Affirming, Transforming or Neglecting Gender? Conceptualizing Gender in the Pension Reform Process,” Social Politics: International Studies in Gender, State and Society, 14(2), pp. 182-211.
- Woodward, A.E., (2008), “Too Late for Gender Mainstreaming?”. Taking Stock in Brussels,”Journal of European Social Policy, Vol. 18, Nº 3, pp. 289-302.
Abstract
The objective of this work is two-fold: first, to ascertain whether the application of European Union laws (Directive 2004/113 and Directive 2006/54) governing defined-benefit employment pension plans and incompletely insured but funded pensions was, in fact, discriminatory in several countries, namely France, Germany, Italy, Spain, Sweden and the United Kingdom. Having found that such discrimination was the case, our second goal is to calculate the cost of that discrimination to the employers.
It is found that the discriminating effect emerged regardless of whether same-gender or different-gender tables were used for calculating benefits; furthermore, the level of discrimination was seen to rise in tandem with the retirement age. This phenomenon can be ascribed to the survival rate of women being higher. The actual cost of the discrimination was determined by isolating the effect of the interest rate and creating ad hoc survival charts that would eliminate the bias inherent in insurance-company tables. These two presentations of data are expressed both in terms of annuity per unit and of GDP, projected until 2015.
Keywords
gender discrimination pension plans funded pensions actuarial repercussions of gender biometric behavior EU laws
References
- Eylenbosch, A., (1996), “Equal Treatment for Men and Women in Complementary Pensions: Answers or Unresolved Questions?”, Journal of European Social Policy, Vol. 6. Nº2, pp. 123-146.
- González-Rabanal, Miryam de la Concepción and Luis Mª Sáez de Jáuregui Sanz, (2006) La Política Comunitaria Contra la Discriminación de Género: Una Propuesta de Evaluación de Su Coste en los Planes y Fondos de Pensiones de Empleo. Su Aplicación al Caso Español. Madrid, IEF.
- Luckmans, L., (1997), “Equal Pension Rights for Men and Women: A Realistic Perspective”, Journal of European Social Policy, Vol. 7, Nº 2, pp. 237-253.
- Marier, P., (2007), “Affirming, Transforming or Neglecting Gender? Conceptualizing Gender in the Pension Reform Process,” Social Politics: International Studies in Gender, State and Society, 14(2), pp. 182-211.
- Woodward, A.E., (2008), “Too Late for Gender Mainstreaming?”. Taking Stock in Brussels,”Journal of European Social Policy, Vol. 18, Nº 3, pp. 289-302.
Details
| Primary Language | English |
|---|---|
| Subjects | Economics |
| Journal Section | Research Articles |
| Authors | |
| Publication Date | May 1, 2012 |
| Published in Issue | Year 2012 Volume: 1 Issue: 2 |