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Research shows that women, on average, earn less than men during their working lives, and that income gap follows them into retirement.
New data from Aegon’s Readiness Report shows that British men have, on average, saved £73,600 in pensions compared to women’s £24,900, writes Stephen Little for The Money Pages.
The good news is that the gap is closing.
“Women often face a more disrupted savings journey due to maternity leave and working part time, juggling a career and children, so it’s crucial that they actively engage with their pension savings – burying heads in the sand is simply not an option,” Kate Smith, head of pensions at Aegon, is quoted saying.
“It’s concerning that over a third of women in the UK don’t know how much they have saved in their pension. Without this vital information it’s impossible to know what to do next. Knowledge is power after all, and the more they do now to build up their pension knowledge the better their retirement will be.”
More: retirement income gap closing.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca

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