More boys than girls have pensions at young age - HMRC data

'Counter intuitive'

Tom Ellis
clock • 1 min read

Parents and grandparents are more likely to save into a pension for their sons than their daughters, according to data from the taxman.

The statistics, obtained by Hargreaves Lansdown from HM Revenue & Customs, showed that 20,000 boys aged under 16 had money paid into a pension for them in 2016/17, compared to 13,000 girls. Those who do not have any earnings can pay up to £2,880 per year into a pension and receive 20% tax relief, including children, and parents and grandparents can pay into a pension plan on behalf of youngsters. Hargreaves Lansdown senior analyst Nathan Long said: "Parents and grandparents are far more likely to save for boys than for girls, so the gender pension gap can start from birth. While women...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Partner Insight: Do you know what the future of retirement advice looks like?

Partner Insight: Do you know what the future of retirement advice looks like?

Professional Adviser
clock 24 September 2024 • 1 min read
Embracing technology for enhanced retirement planning

Embracing technology for enhanced retirement planning

Shaping the future of retirement planning

David Scholes
clock 30 August 2024 • 5 min read
Sponsored content: Just Group on tackling key retirement planning challenges

Sponsored content: Just Group on tackling key retirement planning challenges

Martin Lines talks to PA about key challenges in retirement planning

Professional Adviser
clock 22 August 2024 • 4 min read