Old and poor? All over the world, this is a bitter reality for many women. In old age they have significantly less money than men. In Switzerland, the gender pension gap is 37 percent, the EU average is 40, and in the United Kingdom even 56 percent.
Their wages are lower, they work part-time, and women do most of the unpaid work: they cook, clean, shop, wash, iron, - and they take care of the children. They provide and take care. Mothers and grandmothers invest 50 percent more time in housework and childcare than fathers and grandfathers.
242 billion francs of unpaid work.
We also know how much this work would actually be worth in Switzerland: 242 billion francs. That is how much care and household work women do every year. That is billions of hours. Unpaid.
The economic value of unpaid care and household work is underestimated. Each of us needs people to take care of us. As a baby, as a sick person, in old age. Someone has to do this care work.
Only paid work counts for the pension.
Unpaid work must finally be recognized and valued by our economic system.
The lack of economic recognition of unpaid work results in great disadvantages in the social security system and leads women into dependency. In our existing system, only paid work generates pension. Those who do not have a job only have a minimal AHV, no pension fund, and no right to pay into the pillar 3a. Old-age poverty is a female phenomenon. Women in Switzerland receive 37% less pension, which is almost 20,000 francs a year. This gap in their financial lives must be closed. Women should receive fair pensions since they perform so much unpaid work in the interest of society.