German pension crisis disproportionately affects women, data shows
According to a special analysis of the Federal Statistical Office, requested by the Bündnis Sahra Wagenknecht, a staggering 2.1 million retired women in Germany lived below the poverty risk threshold in the past year, compared to 1.3 million retired men. The trend of increasing poverty among the elderly is a stark reality, with the number of those affected rising by 76% over the past decade.
This alarming statistic has prompted BSW leader Sahra Wagenknecht to call for a fundamental overhaul of the German pension system, labeling it “frauenfeindlich” or hostile to women. Wagenknecht advocates for the introduction of a pension model inspired by Austria, where nearly all working individuals contribute to the public pension fund, resulting in a significantly higher average pension compared to Germany.
The Bündnis Sahra Wagenknecht is pushing for a minimum pension of €1,500 after 40 years of contributions. Experts, however, caution that the two pension systems are not directly comparable, due to several key differences. Despite these challenges, the debate highlights the pressing need for a more equitable and sustainable pension system in Germany, one that addresses the disproportionate impact of poverty on women in retirement.