Hidden systemic, social and situational factors have been blamed for the growing gender pensions gap, with researchers saying the problem is not down to a lack of financial confidence among women.
The University of Edinburgh study, supported by Evelyn Partners, has called for an overhaul of pensions policy and financial advice to address the pensions gap – which can see some women accumulate 75% less in their pensions by age 60 than men. According to data from the Department for Work and Pensions (DWP), almost 15 million people in the UK are failing to save enough for retirement with women disproportionately affected. DWP figures showed men, on average, have defined contribution (DC) pots worth £75,000 by age 59. That figure is £19,000 for women. Mental load The report s...
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