Women aged over 51 have accrued less than £38,000 on average in retirement savings, compared to almost £55,000 saved by men, a new report warns.
Scottish Widows' annual Women & Pensions Report said attitudes to savings and retirement could lead to "widespread poverty" among future generations of women.
Based on a survey of more than 5,000 adults, the study found women aged between 51 and 59 have accrued on average just £37,642 in their pension, while men have saved £54,345.
Meanwhile, younger women - aged between 18 and 29 - have typically accumulated just over half of that achieved by young men: £4,816 on average compared to £7,709. They are saving just £49 per month, compared to £111 per month for men.
The report comes amid criticism of the government's attempts to engender a savings culture in the UK.
Last week, the Treasury announced it will reduce the amount people can pay into their pension pot every year and still receive tax breaks.
Ian Naismith, head of pensions market development at Scottish Widows, said: "[The] report paint a worrying picture.
"Women are saving less than they were a year ago and younger women are saving the least, which is especially worrying as savers tend to stick to habits developed when they are young.
"Attitudes need to change and the major disparity between male and female saving habits needs to be resolved or even more women will face poverty in their old age."
Naismith said the report found that, while three in five women under the age of 30 say they have a pension arrangement, two in five of these don't know what it is and only one in nine say they have an individual, personal or stakeholder pension.
He said the findings heighten the need for effective auto enrolment to engage women from a young age.
"We should place special attention on younger women to ensure they have the best chance of decreasing their burgeoning retirement savings gap."
On a positive note, women aged between 50 and 59 appear to be making a real effort to reduce their debts, with a fall of more than 20% in the last year, although the average owed is still almost £8,500.
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