The issue of shorter working hours is very topical right now, but how many are willing to reduce working hours even if it means a pay cut?
SPP has investigated the attitudes among Swedes regarding shortened working hours and how it affects wages and pensions. This is particularly relevant now that the discussion about the four-day week and a work week of 35 hours instead of 40 has gained momentum.
According to the survey, shorter working days can have their benefits. But despite the fact that many answered that they are willing to sacrifice part of their salary to work less, the cut may have long-term consequences.
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A quarter willing to take a lower salary
In the survey, 26 percent of the respondents answered that they would like to introduce a four-day week, even if it means a lower salary. At the same time, 62 percent oppose shorter working hours if it means a pay cut.
The most common is that you are prepared to give up 6-10 percent of your salary. Most of the participants in the survey believe that shorter working hours would improve public health. But there is a clear difference between the sexes – 68 percent of women and 54 percent of men believe it would benefit public health
– The fact that women are more positive than men is probably also due to women taking greater responsibility for the unpaid work at home. A more equal labor market, reduced part-time work and equal taking of parental leave would be desirable because it leads in the long term to more equal pensions, says Shoka Åhrman, savings economist at SPP and Storebrand, in a press release.
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The pension system may be negatively affected
According to Shoka Åhrman, there are also disadvantages to the proposal. She points out that it can have long-term negative effects on pensions and the pension system.
– Shortening working hours often means increased costs for employers and likely means lower wages, says Shoka Åhrman in the press release.
She points out that this can have long-term negative effects on pensions and the pension system. Shorter working hours can mean higher costs for employers and likely lower wages for employees.
– A general shortening of working hours leads to more people needing to support themselves from fewer hours worked, which puts pressure on the pension system’s sustainability and will mean that more people will need to set aside more money in private pension savings,” she says in the press release.
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