Sweden launches action plan for "gender-equal pensions"

Sweden's Pensions Review Committee unveiled a new, eight-point plan on Monday as part of the country's efforts to even out differences in men's and women's pension rates.

Differences in lifelong earnings in Sweden mean that, on average, women's pensions are 30 percent lower than that of men, according to a statement published on the Swedish government's website.

To rectify that, representatives from six political parties have taken part in a project aimed out making pension provision more equal.

The group presented their findings in June last year and has now come up with an action plan.

The action plan seeks to review both the basic cover in the Sweden's pension system and how to simplify the transfer of premium pensions between spouses.

It also includes plans to further study and analyze why women retire earlier than men and to analyze a previous proposal to allow Swedes to earn retirement pension during years of study and parental leave.

"We know that many pensioners have a tough time and that 80 percent of those receiving a guarantee pension are women. An important aspect of the ongoing work is therefore to examine how the basic cover can be strengthened," said Swedish social security minister Annika Strandhall in the statement.

"There has not been a comprehensive review of the basic cover since it was first introduced 20 years ago and it is about time it is done," Strandhall added. Endit