Pension Disparity By Age And Gender

Pension Disparity By

Age And Gender Peggy Prendergast, Pensions

The following table illustrates the breakdown by age, gender and average gross amount of pension received in December of 2013. The average gross amount received is indicated for the lowest age in that category with the number of individuals at that age in brackets().

Pensioner Statistics – excluding Marriage Break-up Male & Female: 12,497.

Age Category Total Female Total Male Avg. Gross Monthly Pension - Female Avg. Gross Monthly Pension Male

55 - 59 60 – 64 65 – 69 70 - 74 75 - 79 80 - 84 85 - 89 90 – 94 95 - 99 100+

800 1,761 1,877 1,068 687 518 379 204 58 19

347 951 1,450 1,151 666 340 171 38 11 1

$2,151 (88) $2,233 (276) $2,068 (454) $1,890 (248) $1,617 (154) $1,585 (113) $1,370 (88) $1,261 (61) $1,174 (18) $852 (6)

$2,189 (26) $2,633 (134) $2,419 (291) $2,357 (257) $2,344 (161) $2,270 (90) $2,154 (43) $2,121 (9) $2,117 (4) $0 (0)

The Pensioner Statistics shown in the above table is not complete for every age but gives a snapshot of information in five year steps. The total number of pensioners is 12,497 as of December 31, 2013.

What does this report tell us? What questions does it raise for us? At first glance the first two lines, age 55-64, indicate many more female teachers retiring than men. The TRAF Annual report indicates approximately 70% of active teachers are women. The pension amounts for men and women are more or less similar (maternity leave buy back?) and considerably larger than the following age coordinates. Is the total pension steadily declining after that and if so why and will it continue this trend for a retiree’s lifetime? Also there appears to be fewer numbers of teachers retiring from 55-64.

On a second look, between the ages of 70-79 the numbers of retirees of each gender are more or less equal. The difference between men and women’s pensions increases considerably.

The third observation notes, from the age of 80 on there are many more female retirees than men . The dollar difference between the pensions of men and women is much more pronounced. How many people in all the age brackets are sole providers in their living situation when retired? What questions do these statistics raise for you as you age? What is the effect of little or no COLA having on pensions? What can we in RTAM do to support the older retiree who is getting poorer and poorer? What are your thoughts? §

What can we in RTAM do to support the older retiree who is getting poorer and poorer? What are your thoughts?