Women in Cyprus struggle with a stark gender pension gap, receiving 29 per cent lower pensions than their male counterparts as of 2024. This gap exceeds the EU average, shedding light on ongoing income inequalities in retirement.
Gender pension: Disparities in Pension Income
According to Eurostat, the average pension for women aged 65 and over in Cyprus is not only below that of men but also significantly higher than the EU-wide average gap of 24.5 per cent. In comparison, Greece reports a gender pension gap of 23.8 per cent.
Comparative Analysis Across the EU
While Cyprus’s figures are concerning, they are not the worst in the EU. Malta records the highest average gender gap at 40.3 per cent, followed by the Netherlands at 36.3 per cent and Austria at 35.6 per cent. On the other end of the spectrum, Estonia boasts the smallest average gap at just 5.6 per cent.
Median Versus Average Pension Gaps
Eurostat also provides insights based on median pension values, which can offer a different perspective on income disparity. In Cyprus, the median gender pension gap is reported at 26.7 per cent, indicating that even when looking at middle values, a significant disparity persists.
Pension Gaps in Context
Within the euro area, the median gap is notably higher at 28.1 per cent, with Greece closely following at 29.8 per cent. The largest median pension gaps across the EU are found in Luxembourg (43.3 per cent), Spain (41.1 per cent), and the Netherlands (39.6 per cent).
Diverging Trends in Pension Calculations
Interestingly, the difference between average and median pension gaps varies significantly across countries. For instance, Denmark shows a notable 12.9 percentage point difference, with the average gap being higher than the median. Conversely, Spain demonstrates the opposite trend, with its median gap being 11.9 percentage points larger than the average.
Structural Inequalities Highlighted
The statistics emphasise that Cyprus not only surpasses the EU average in terms of the average gender pension gap but also highlights the ongoing structural inequalities that affect women’s lifetime earnings and employment patterns. These disparities inevitably translate into reduced pension income for older women.
