The World Banks Women, Business, and the Law Index has documented a persistent gender pension gap in rich and poor countries alike. This is partly because of gender-based legal disparities, such as a lower mandatory retirement age for women and the lack of pension credit for periods of childcare. Because women have shorter working lives, earn less, and have higher life expectancy than men, they often receive lower benefits, which must last longer.
But the problem is most acute in low- and middle-income countries. Around two-thirds of the worlds population aged 60 and older live in the developing world, and that share is projected to rise to 80 per cent by 2050. Many of these countries do not adequately index pensions to inflation; instea…
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