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The difference between the amount of men’s and women’s pensions remains high, according to the 2019 annual report of the Pension Insurance Institution (PVA) released on Friday. While the average pension for men was 1,555.28 euros, that of women was 973.24 euros.
“One can only urgently warn against the part-time job trap, which has a strong influence on the amount of future pension,” PVA CEO Winfried Pinggera said in a broadcast. In both sexes, the average amount of the pension increased by almost 40 euros in 2019 and amounted to 1,195.41 euros.
The PVA paid an average of 1.98 million pensions per month, about 25,000 or 1.3 percent more than in 2018. At the same time, the number of people with compulsory insurance increased by 1.9 percent to more 3.46 million people.
The federal contribution was 3,707 million euros. This translated into a reduction of 63 million euros compared to 2018. This was due to the positive evolution of premium income, which increased by 5.3 percent compared to 2018 due to good economic development in 2019.
In total, the total expenditure of the PVA in 2019 amounted to 39.5 billion euros. Most of it (33,095 million euros) corresponds to pension expenses. Insured contributions amounted to 32,893 million euros in the same period. Therefore, most of the pension expenses could be covered by the contributions of the insured themselves.
