Research Shows Women Attain Just 74% Of The Wealth Men Earn At Retirement. India Has The Largest Gender Wealth Equity
I would not say that as a country we are not progressing. We undoubtedly have come a long way in terms of many aspects, one being that the country is now at least striving to generate equal opportunities for all genders. But then there are many areas that we significantly lack, and it does call for some serious actions and steps by the people in power. One has been recently revealed in the data on Global Gender Wealth Equity. The study has brought to light that India faces the highest gender wealth gap at retirement between men and women in comparison to other Asia Pacific countries. The reasons behind this are alarming, but not new, however, it should be an eye-opener to make the county realise that we still have much to do.
The data was released by WTW on November 3, Thursday. The research was carried out to determine Global Gender Wealth Equity. The report has highlighted that on average women are expected to retire with 74% of the wealth of men have accumulated. This percentage increases by just two points (76%) in Asia Pacific countries. But the saddest part that came across from the research is that India has the largest gender wealth pay gap among the Asia Pacific counties, it stands at 64%, as per reports.
Also Read: Study Reveals Women’s Earnings Continue To Drop After Childbirth. Is Gender Pay Gap Progress A Myth?
The reasons behind this are not something that we are not aware of. Women’s representation in senior positions is still very less. Also, the gender pay gap in the country is higher than even the global average, which is a hard-hitting fact. In our Indian society, women are the ones who are overburdened with household and childcare responsibilities which becomes a major reason that obstructs their careers. In return, no matter how hard-working women are, by the end of retirement they will still remain with a lesser wealth accumulation than men.
Also Read: Report Highlights Gender Pay Inequality More In The Healthcare Sector
The gender gap index is a concerning problem in our country that needs to be addressed. In fact, as a society too, Indian women should be encouraged to work and not be pulled back by various societal pressures. When women are putting in the same amount of effort as men, why do organisations have a bias in wages? There needs to be a proper check on this too. These studies are carried out to make us know where we stand with the “progress” and demands for substantial steps in order to deal with it.
Report Highlights Gender Pay Inequality More In The Healthcare Sector
