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Presentation gender pensions neri seminar m collins ucd 2 may 18

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Presentation on 2nd May, 2018 by Dr Micheál Collins, UCD for NERI on "Ireland's Private Pension System: the gender dimension"

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Presentation gender pensions neri seminar m collins ucd 2 may 18

  1. 1. Ireland’s Private Pension System: the gender dimension NERI Research Seminar, Dublin 2nd May 2018 Dr Micheál Collins ml.collins@ucd.ie @MLGCollins @UCDSocialPWJ
  2. 2. Outline 1. Background 2. This Paper 3. Research Questions 4. Data 5. Some Findings 6. Conclusions
  3. 3. 1. Background 1) We spend a lot on supporting private pensions • revenue forgone…but immediate exchequer cost • Tax relief for: • to employee for their contributions • to employees as BIK relief on employers contributions • to employers for contributions they make to employees • on other individual contributions (PRSA etc) • on the capital gains of the pension fund • on the lump sum payment upon retirement • For employees an EEpT system
  4. 4. • Questions: • Efficiency • Effectiveness • Gender
  5. 5. 2) Ageing Population
  6. 6. 3) Pensions Policy http://www.irishlifecorporatebusiness.ie/chartered-accountants-ireland-back-scheme-auto-enrol-pension
  7. 7. 2. This Paper • The gender pensions gap • gets some focus • although a relatively new concept (at least formally) • 2013 proposal for a measure • Focus here on one aspect of the gap’s emergence • the difference in private pension contribution rates by gender • not something we know much about…
  8. 8. 3. Research Questions i. Is there a gender pensions contribution gap? ii. If there is a gap, does it vary by socio-economic characteristic? iii. How are current tax supports distributed by gender? iv. Is any gap gender specific or does it reflect underlying conditions in the labour market?
  9. 9. 4. Data • Same as Collins and Hughes (2017) • SILC 2014 • detailed data on pension contributions • looking at: • employee contributions • employer contributions • individual contributions • data on earnings, households… • modelled taxation system • tax cases and marginal income tax rates • 2014 versus today…
  10. 10. 5. Some Findings • See tables in handout
  11. 11. 5. Some Findings • See tables in handout
  12. 12. 5. Some Findings • See tables in handout
  13. 13. Does this differ by gender?
  14. 14. Looking deeper: • Econometric work (completed) • Is there is difference in the nominal contribution of workers to pensions • isolate effects while controlling for others • gender • age • higher tax rate • earnings level • marital status
  15. 15. Looking deeper: • Econometric work (completed) • Is there is difference in the nominal contribution of workers to pensions • isolate effects while controlling for others • gender [women contribute more than men] • age [no effect] • higher tax rate [ small + & impact more on males than females] • earnings level [men more responsive to increases in earnings] • marital status [ + and big effect for males]
  16. 16. 6. Conclusions • Large area of public expenditure • Bringing a gender lens to it • A gender-contributions gap: • as % earnings = no • nominal = yes pronounced long-term effect on income adequacy in retirement • policy tools skewed • structural rather than solely a gender issue
  17. 17. Ireland’s Private Pension System: the gender dimension NERI Research Seminar, Dublin 2nd May 2018 Dr Micheál Collins ml.collins@ucd.ie @MLGCollins @UCDSocialPWJ

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