Gender pension gap widens as men outpace women by £17,000

The Money Matters report aims to help more women engage with investing

Sahar Nazir
clock • 1 min read

Men have almost £49,000 in their pension pot compared to just over £32,000 for women, according to AJ Bell’s latest Money Matters report.

The study was conducted along 4,000 UK adults in June 2023 and was based on parents working full-time before having a child. Just a quarter of women carried on paying into their pension at the same rate during parental leave, compared to 70% of men. The study suggested that men prioritise their pensions far more than women, but women live longer than men, which means "they should actually have a bigger pension pot". Meanwhile, half of women have never paid more into their pension than the minimum requirement. In fact, women are also more likely to not have engaged with their pensio...

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 Your profession

Industry needs to move away from 'chunky and complicated' reports

Industry needs to move away from 'chunky and complicated' reports

‘You should remember that the UK is a nation of skim readers’

Isabel Baxter
clock 08 May 2024 • 2 min read
Paraplanning 'not always' a stepping stone to becoming an adviser

Paraplanning 'not always' a stepping stone to becoming an adviser

‘Depends on the person and if they want the client-centric element’

Isabel Baxter
clock 08 May 2024 • 2 min read
OpenAI is the 'biggest financial adviser in the world'

OpenAI is the 'biggest financial adviser in the world'

'The transformative power of generative AI is undeniable’

Sahar Nazir
clock 08 May 2024 • 1 min read