The Gender Pension Gap: How Women are Struggling to Close a £136,000 Shortfall
Thursday, 21 March 2024, 00:02
The Gender Pension Gap: A Deepening Financial Disparity
Working single mothers have missed out on more than £852 million in pension savings since the introduction of auto-enrolment in 2012. The gender pension gap has forced women to face an additional 19 years in the workforce to recover a significant £136,000 shortfall.
Key Points:
- Challenges: Women are struggling to bridge the pension savings gap, affecting their financial security and retirement plans.
- Impact: The disparity highlights the urgent need for reforms to promote gender equality in financial planning.
- Future Outlook: Without substantial changes, the gender pension gap is projected to persist, impacting women's retirement prospects globally.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.