What additional contribution reduces the gender gap in retirement
The year 2024 marks a shift in how pensions and social contributions treat gender differences. This adjustment demonstrates a steadfast effort to close the gender gap in professional careers, especially for those who take on central caregiving roles for children. The gender difference supplement is an extra amount added to the pension to offset the career disruption that caring duties can cause. In 2024, this supplement rises, underscoring a meaningful move toward broader gender equality in retirement benefits.
How the gender gap supplement grows through 2025
Starting in 2024, the gender gap supplement increases by 10 percent, followed by another 10 percent bump in 2025. The supplement is reviewed annually and adjusted using the Consumer Price Index, ensuring it keeps pace with cost of living changes. For families with multiple children, the supplement translates to 34.71 euros per month per child, up to four children, yielding a maximum of 138.84 euros monthly. This mechanism reinforces a steady, predictable path toward reducing gender inequality in retirement benefits.
Who is eligible for the child pension supplement
Both men and women who contribute to pensions can benefit from this supplement. It applies to individuals with one or more children and who meet specific conditions related to permanent disability or widowhood as of February 4, 2021, excluding partial retirement. The eligibility framework recognizes the value of caregiving and its impact on long-term pension accrual. [Attribution: Government data]
Special conditions for men to receive the child pension supplement
Men may qualify for the gender difference supplement if they experience circumstances that affect their professional career due to the birth or adoption of a child. This includes events such as becoming a widower, or interruptions to work caused by caring for children. Conditions vary depending on whether the child was born or adopted before or after December 31, 1994. The aim is to acknowledge and compensate for the labor market effects of family responsibilities across different cohorts. [Attribution: Government data]
How pensions rise in 2024
Alongside the boost in contributions to narrow the gender gap, pension amounts are planned to increase as well. Social Security systems will align with inflation, and both contributed retirement benefits and non-contributory measures like the Minimum Vital Income will be revalued according to the CPI. Widow pensions will also rise, with stronger emphasis on family responsibilities and the ongoing effort to balance earnings with caregiving duties. [Attribution: Government data]
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Minimum pensions in 2024
Minimum pension levels will be revalued by between 5 percent and 7 percent in 2024. For retirees with a dependent spouse, the minimum pension will be 1,033.83 euros per month, while those without a dependent spouse will see an increase to 837.92 euros per month. This update reflects the broader strategy to improve basic retirement income and reduce the economic strain on families with caregiving responsibilities. [Attribution: Government data]
The advancement of the gender gap complement sits at the heart of pension reform, signaling a sustained effort to correct historic disparities tied to family duties. With these changes, it is hoped both the financial security of retirees and the broader drive toward a fairer society will be strengthened. [Attribution: Government data]