Female employees less likely to receive pensions

Aoibhín Bryant 

49 per cent of working men receive a pension contribution, but only 39 per cent of women do so

Female employees are less likely to receive pension and bonus payouts compared to male employees, according to a survey conducted by Aviva.

However, women are more likely to seek the chance of flexible working hours in comparison to men.

It was found that 49 per cent of working men receive a pension contribution, but only 39 per cent of women do so.

28 per cent of men have access to a work bonus scheme, while this statistic drops to only 20 per cent of women.

This research sought to look at benefits that are currently offered to Irish workers by their employers. It was conducted from a survey of 393 employed adults and was carried out by Behaviour and Attitudes’ online panel Acumen, for Aviva.

Karen Gallagher of Aviva stated that “the findings support the widely held contention that women have fewer financial provisions than men – particularly when it comes to pensions”.

The survey also found that only 15 per cent of employers pay any sort of health insurance contributions and only four per cent pay Income Protection premiums.

“This is concerning because less than half the workforce have private health insurance and far fewer have Income Protection — which leads us to believe that there is a high level of financial exposure when it comes to illness in Irish households,” said Gallagher.

The survey also revealed that workers are more inclined to look for a greater degree of flexibility in hours and where they work, more specifically in millennials (under 35’s).

21 per cent of millennials’ first preference would be flexible hours, this lowers considerably when looking at the 34-50 age demographic, at 17 per cent.

It was found the employees also tend to prefer long-term financial benefits such as pensions and health insurance over short-term rewards like bonuses and subsidies for travel.

Other findings in the survey include that 45 per cent of employees are provided pension contributions by their employers.

The other main benefits from employers are flexible hours, an annual or performance bonus and canteen subsidies, with 20 per cent of workers having access to a canteen.

Over a quarter of employees do not receive any benefits outside of wages.

Only four per cent of employees are guaranteed income protection by their employers.

Aoibhín Bryant 

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