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Women ‘would need to work extra 19 years typically to close pensions gender gap’
Models of a man and woman stand on a pile of coins and bank notes, September 11, 2018
WOMEN must work for an extra 19 years to retire with the same pension savings as men, according to a report published today.
On average, women retire with pension savings of £69,000 compared with £205,000 for men, the research by the Pensions Policy Institute (PPI) and pensions provider Now Pensions found.
Career gaps, caring responsibilities, childcare costs and lower earnings contribute to women often having less money saved for retirement than men.
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