THE gender pension gap means retired women miss out on the equivalent of over four months of pension payments each year, according to new research.

From today retired women effectively stop receiving pension income compared to men — losing out on an average of £7,600 a year — the TUC calculated.

The income gap between men and women in retirement stands at 36.5 per cent, according to research from Prospect union — significantly wider than the gender pay gap, which stands at 13.1 per cent.

The TUC noted that unpaid caring responsibilities are a key driver of the gap.

Women are five times more likely to be out of paid work to look after children, elderly or disabled family members, and therefore more likely to miss out on workplace pension contributions, the union body found.

The gender pay gap also means that women earn less than men and more likely to accrue lower pension contributions.

And women are three times more likely than men to earn below £10,000 — the threshold required for employers to put workers into a workplace pension — the TUC said.

Last month, the government revived the Pension Commission, which will brings together unions, employers and independent experts to look into the causes of the gap.

TUC general secretary Paul Nowak described it as a “vital step forward.”

He said: “Everyone deserves dignity and security in retirement. But right now, too many retired women have been left without enough to get by.

“We must make sure that these inequalities are addressed for future generations.”

The TUC recommends tackling gender pay gaps by enhancing childcare and social care, strengthening flexible working rights and reforming parental leave to promote a fairer distribution of caregiving responsibilities.

The union body also calls for greater recognition of unpaid caring, including through Carer’s Credit, which could help replace lost workplace pension contributions.

Fawcett Society chief executive Penny East said: “We know inequality follows women into retirement and we are more likely to live in pension poverty than men. We disproportionately rely on the state pension and continue to be poorly served by it.

“It’s essential that economic unfairnesses are tackled way before we retire.

“Fawcett has long campaigned, alongside our members, for a day one right to flexible work and improved parental leave — both measures will help to tackle the UK’s pernicious gender pay gap.”

A government spokesperson said: “We’re determined to close the gender pensions gap, and the new state pension has already reduced historic inequalities faced by women and low earners.

“Alongside this, the Pensions Commission will tackle barriers to close the gap in private pensions to ensure women have the dignity and security they deserve in retirement.”