Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283528 
Year of Publication: 
2024
Series/Report no.: 
IZA Policy Paper No. 207
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
The gender pay gap not only affects women's financial security during their working lives but also their wealth available for retirement. This note reveals a large gender wealth gap in Canada among singles near retirement. Using a repeated national wealth survey from 1999 to 2019, we find an average wealth gap favouring men at ages 45-59 of $56,000 or 16%, and the estimated gap rises to $96,000 or 27% after accounting for gender differences in demographic characteristics. There is no evidence that the wealth gap is narrowing, which is largely explained by the gender earnings gap. Previously married women are particularly disadvantaged, which may reflect the persistent earnings penalties faced by women who have children.
Subjects: 
gender wealth gap
gender earnings gap
retirement wealth
business equity
costs of divorce
JEL: 
D31
J31
Document Type: 
Working Paper

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