The Gender Pension Gap: A Deeper Dive into Women's Extra Work Years for Financial Recovery

Thursday, 21 March 2024, 00:02

In a stark revelation, working single mothers have collectively missed out on over £852 million in pension savings due to the gender pension gap, leading to women facing an additional 19 years of work to bridge the £136,000 shortfall. This disparity sheds light on the critical need for gender equality in pension planning and the long-term financial impact it has on women's retirement security.
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The Gender Pension Gap: A Deeper Dive into Women's Extra Work Years for Financial Recovery

The Gender Pension Gap: A Financial Disparity

Working single mothers have missed out on more than £852 million in pension savings since the introduction of auto-enrolment in 2012. This has led to women facing an additional 19 years of work to bridge the £136,000 gender pension gap shortfall.

Key Points:

  • Financial Impact: The gap highlights a significant imbalance in pension contributions and retirement planning for women.
  • Long-term Consequences: Women are disadvantaged in building retirement security, impacting their financial stability in later years.

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.


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