The median gender pay gap, gender pension gap and ethnicity pay gap at the CII have continued to shrink in the last 12 months.
The CII had a median gender pay gap of 10.06% in 2021, compared with 13.94% in 2020.
The professional body’s median gender pension gap was 10.66% in 2021, compared with 11.16% in 2020.
A median ethnicity pay gap of 14.1% was reported for 2021, the first year of external reporting of this figure.
The CII’s mean gender pay gap is now 14.81%, compared with 16.25% in 2020, while the mean gender pay pension gap is now 7.35%, compared with 17.37% in 2020.
The mean ethnicity gap is 25.43% in 2021, which again is the first year of external reporting of this figure.
During the last four years, the CII has re-evaluated roles to address any historic anomalies towards part-time workers; expanded the number of roles suitable for part-time and/or job sharing; moved to ‘anytime anywhere’ working; trained managers to recognise and overcome unconscious biases; and committed to the Insuring Women’s Futures Financial Flexible Working and Inclusive Customer Financial Lives pledges.
The figures used in the gender pay pension gap include both employer and employee contributions.
A larger proportion of male employees (35%) make a personal contribution to their pension than female employees (33%), although the proportion of females making a personal contribution has increased by 5% since 2020.
Sian Fisher, CEO of the CII said: “I am proud of the steps we continue to take to tackle gender and ethnicity pay issues and particularly the improvements made. We continue to work on reducing the gender pay, pension and ethnicity pay gap and recognise the challenge of making further improvements next year.”