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Women's pensions still worth less than men's
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PostPosted: Wed May 18, 2011 9:59 am 

Joined: Tue Mar 10, 2009 1:21 pm
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Location: Hampshire
Women who retire this year are looking at pension income that is a third lower than men in the same situation, research has suggested.

The study found the average woman retiring in 2011 will get £12,900 from both state and private pensions. That is £6,500 less than the equivalent man, who would get £19,400, it found.

Some 28% of women who plan to stop work this year will get no income from a personal or work-related pension, while only 10% of men will be in that situation.

While women still seem to face lower pensions than men, the gap between the genders is a bit smaller than last year, Prudential found. Then research showed women got £12,200, £7,400 less than men, who were looking at £19,600.

The trend is linked to the fact women are more likely to have spent periods not working as they take care of children or older relatives, and the likelihood they earn less than men while working.

Joanne Segars, Chief Executive of the National Association of Pension Funds, said: 'Sadly many women lost out on the chance to build their pension when they left work to start a family, and too many are reliant on their husband's pension. It's important that everyone has a pension in their own right.

'The gender gap may have narrowed slightly, but our society as a whole remains on a collision course with its retirement. Government plans for a simpler, more generous state pension should help, as will the introduction from 2012 of automatic enrolment into a workplace pension.'

Michelle Mitchell, Charity Director at Age UK said, 'The pension gender gap is an enduring problem caused by women taking time out to care for children and working in lower paid jobs, limiting their ability to build up a private or state pension. While it’s good news that caring responsibilities are now recognised in the state pension, the Coalition Government’s current proposals to increase the state pension age will hit women the hardest.

'The worst affected stand to lose up to £10,000 in state pension income and many will face a poorer retirement. Hundreds of women are protesting against the changes on Wednesday in Westminster, urging the Government to ensure changes to the state pension age do not increase the pension gender gap and force more women into pensioner poverty. For more information about how the changes could affect you go to


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