The conclusion is clear: men are getting more out of their retirement savings. That’s what the new report, “How to save the Danes in 2016”, shows. The report was prepared by Nordea and has asked 1,006 Danes between the ages of 18 and 65 about their savings.

You can read the entire report via the link here, or you can read the rest of the article to get the headlines.

Where is the difference between men and women?


The big difference between men’s and women’s pension savings is that women usually choose to put their entire pension savings into a bank account. The men, on the other hand, avail themselves of various options for their pension savings, and put their money into bonds, shares and private pension savings. The men thus use different savings methods, where women use only one method. As many as 42% of women surveyed only use bank savings, with only 28% of men doing the same.

According to the report, this difference is explained by the fact that women are discouraged from using, for example, shares as a savings method, because of the uncertainty associated with it, and that the economic crisis is still haunting people’s minds. However, it is precisely this horror that makes women lose their savings.

What are the consequences of this trend?

There are three problems associated with this trend. The biggest consequence is that with ordinary bank savings, you get the lowest interest yield, and this is where the women lose their money. There is a greater benefit from putting the money in stocks or bonds, and thus the men get more out of their savings.

At the same time, low inflation has the consequence that women’s savings are more or less eroded, and thus women have difficulty maintaining their purchasing power. This is also related to the last problem: that women also live longer than men, and therefore women should also save more than men. Basically, it is not because women are inferior to men in managing their finances, but the tendency is due to a sense of security and security in relation to one’s future.

What can you do to get more out of your savings?

To make the most of your savings, you can do different things. First of all, you can choose to put your money into the alternative savings mentioned earlier in the article.

If you do not want to use the alternative savings methods, you may want to find out which banks offer you the highest interest rate on your pension savings. You can either inquire at your local banks or use different websites where you can compare banks’ interest rates by entering different information. The website then shows you which banks have the most favorable interest rates.

You should be aware that these interest rates are often fixed and therefore you cannot negotiate a better interest rate. A 1% interest on your retirement savings is very common.

In addition, you should be aware that if you choose to transfer your savings to another bank, you will often be asked to bind your savings to the bank for a period of 2-3 years. This is done to prevent banks from getting customers moving their money. If you make such an agreement, it is expensive to break the agreement again if you still choose to move your money before the period has expired.