A reported ‘gender gap’ in the pensions market could be growing even larger, according to a new report.
According to the findings, more and more women are ill-prepared to meet retirement compared to men, who are more likely to have a pension in pace. Scottish Widows revealed that 13 per cent less women are saving enough to cover retirement than men.
Some 54 per cent of men are making an adequate saving for their retirement, up five per cent on stats from last year. In contrast, just 41 per cent of women manage to adequately provide for retirement.
The research was based on a poll by YouGov, who surveyed almost 5,500 people. 22 per cent of men and a third of women were found to have no sort of pension .
The head of pensions at Scottish Widows, Ian Naismith, reportedly commented: "as well as earning less, women are saving less for their futures than men. And even the women that are saving in a pension are saving a smaller percentage of what they earn - effectively compounding the effect of the pay gap, and making the gender 'pensions gap' even wider."
Sex gap in pensions market
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