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The Financial Equality case

A group of women looking into the camera.

Story: Financial equality 

How can we achieve equality between women and men when it comes to ownership, income and savings? In October 2020, SEB launched an initiative – financial equality – that aimed to put a spotlight on the subject.  

Despite Sweden being at the forefront regarding equality, there is still a big gender gap when it comes to capital. In 2020, women owned 33 % of all privately owned shares in Sweden, 25 % of the total property value and 15 % of land in Sweden. Historically, there were reasons that men owned considerably more than women. But there are no valid contemporary excuses. 

Why women don't own 

We are convinced that when women and men have the same opportunities to reach their full potential, the world will not only be a fairer place to live in, but it will also see greater success. An important part of our sustainability efforts is taking responsibility for how society develops, which is why we strive towards financial equality. 

SEB released the film below on March 8 in 2020 – on International Women's DayThe film was produced in cooperation with Ownershift – a think tank dedicated to substantially increasing ownership among women and thereby giving women more power over their own life decisions and improving equality in society. 

 

Award winning initiative 

The Financial Equality initiative was also recognised during the year with the 2020 Anna Equality and Diversity Award. The award has been handed out yearly since 1993 by the Central Equality and Diversity Committee, which is a collaboration between BAO (the Swedish banking sector’s employer organisation) and Finansförbundet (the Financial Sector Union of Sweden). The award is handed out to an individual, company, chapter, project or work team in the banking and financial sector. 

Did you know that… 

  • There are more than three times as many women working part-time compared to men. 
  • Among women, widows receive the highest pension. Divorced women receive the lowest.  
  • In December 2018, men received an average of SEK 22,000 per month in pension. Women SEK 16,600. 

 

What is your part-time job costing you, today and tomorrow? 

Many people, especially women, work part-time at some stage, for example while studying, when the kids are young and towards the end of the working life. This will affect your future pension. SEB has therefore developed a tool for calculating how part-time work affects pensions negatively and highlighting how this can be compensated for by the spouse who takes less reasonability at home.

The statistics

In Sweden, women own only half as much as men. They earn 10 % less, have a 30 % lower retirement income, and are less likely to own their own house. Those are the statistics, but they don’t have to be.

We believe that financial equality is crucial for a more sustainable society. A society where more women get the freedom that comes with ownership. The freedom to buy a home, start investing or launch a business.

Let’s change the statistics.