ELI5: Explain Like I'm 5

Gender pension gap

Okay kiddo, have you heard of a pension before? It's like a special savings account for when you are older and can't work anymore. It's meant to help you live comfortably without having to worry about money.

Now, boys and girls both work hard and should be paid the same for doing the same job. But sometimes, boys and girls end up with different amounts of money in their pension accounts. This is called the Gender Pension Gap.

Here's why it happens: When you grow up, you might have noticed that boys and girls sometimes pick different jobs. Boys might want to become engineers or scientists while girls might want to become teachers or nurses. And in some countries, these jobs pay differently.

So even though both boys and girls are working and putting money into their pension accounts, the girls might end up with less money in the end. This is because they might be earning less money at their job or spend fewer years working because they might take time off work to have a baby.

The Gender Pension Gap means that girls might have less money to live on when they are older, and that's not fair! It is important to remember that everyone deserves to be treated equally and have the same chances in life.