Sexist allegations levelled at stakeholder pensions

Dr Oonagh McDonald CBE, leading retirement income reform campaigner has questioned whether hundreds of thousands of women are set to lose out financially from the introduction of stakeholder pensions. McDonald argues that on a level annuity women will receive almost a £1,000 a year less than a man with the same sized pension fund. Annuity returns for women provide an income, on average, of 10% a year less than for men. Furthermore, McDonald says that life expectancy for men, once they have reached 65, is only marginally lower than that for women, and the difference is narrowing. ...