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Absolute and Relative Gender Gap in Pensions: The Impact of the Transition from DB to NDC in Italy

In: Mathematical and Statistical Methods for Actuarial Sciences and Finance

Author

Listed:
  • Antonio Abatemarco

    (University of Salerno, Department of Economics and Statistics and Centre for Economic and Labour Policy, Evaluation (CELPE))

  • Maria Russolillo

    (University of Salerno, Department of Economics and Statistics)

Abstract

In this paper, we analyze how the progressive transition from the DB to the NDC scheme has affected both the absolute and the relative gender gap at retirement in Italy for individuals retiring from 1980 to 2027 by using data from SHARELIFE (Wave 7). With this purpose in mind, the two opposite effects originating respectively from (i) improving labor market conditions for women and (ii) increasing actuarial fairness of the pension plan are simultaneously considered. We observe a U-shaped pattern since the gender gap in pensions is found to be decreasing up to 2020 but increasing afterward. By using both absolute and relative gender-gap indicators, we show that the increasing pattern for the gender gap at retirement after 2020 is driven by (i) decreasing redistributive impact of the pension scheme, and (ii) women's penalization in the pro-rata mechanism due to lower contributions paid in the early working life. Specifically, due to the transition from a very generous to an actuarially fair pension scheme, gender disparities are found to be slightly different when comparing absolute and relative indicators.

Suggested Citation

  • Antonio Abatemarco & Maria Russolillo, 2022. "Absolute and Relative Gender Gap in Pensions: The Impact of the Transition from DB to NDC in Italy," Springer Books, in: Marco Corazza & Cira Perna & Claudio Pizzi & Marilena Sibillo (ed.), Mathematical and Statistical Methods for Actuarial Sciences and Finance, pages 1-6, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-99638-3_1
    DOI: 10.1007/978-3-030-99638-3_1
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