Trend of more women contributing extra to pensions continues for P+ members

Female members of P+ have contributed more to their pensions than male members for the third year running, the pension fund has revealed.

Last year saw DKK 222m in extra payments to people’s pensions, a trend that began in 2019.

P+ CEO, Søren Kolbye Sørensen, said: “When our members pay extra into their pension scheme, it shows that they are aware of how they can secure a good financial foundation for their retirement. And, of course, we as a pension fund are pleased that our members are focusing on the fact that extra payments can give them greater security in the long run.”

The increase in pension contributions is attributed to the extra tax relief savers can get on pension payments and negative interest rates at banks.

However, P+ has also seen the trend of more women paying extra into their pensions than men, and the fund believes the focus on female pensions lagging men’s has had an impact on this. Since 2019, around 10-12 per cent more women have contributed extra to their pensions than men.

“This has contributed to our female members increasingly equalising the traditional gender pay gap. In fact, our female members under the age of 65 today have larger average retirement savings than our male members. I hope that in the future we will also see that more and more of our members take an active part in their pension and are considering whether they should pay extra,” Kolbye Sørensen said.

    Share Story:

Recent Stories

An overview of growth investing
European Pensions Editor, Natalie Tuck, speaks to American Century Investments (ACI), Vice President, Senior Client Portfolio Manager, Kevin Lewis on growth investing.

They discuss how it has performed in 2021, and its outlook, going forward. They also cover ACI’s differentiated growth approach to the investment universe, and how this capitalises on market inefficiencies, as well as how ACI’s team is equipped to invest in this manner.
Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.

Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows