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   Pension gap between men and women expands
By Emma Davis The difference between average pensions for men and women has grown by £782 since 2009, with men now receiving £7,424 more each year. Recent figures from the Prudential Class of 2010 retirement survey, reveal that whilst men will now receive an average £19,593, women will receive just £12,169. This means that women will receive an average of £234 a week, less than two-thirds of the amount for men. Pensions for the newly retired decreased for both sexes over the past 12 months, but women saw their retirement income drop by three times as much as their counterparts'. Karin Brown, director of pension and annuities at Prudential, said that the reason women appeared to get lesser pensions than men is "embedded in years of history", along with the impact of some taking career breaks to have children. But, she said there is an opportunity for women who are working and contributing to a pension to help reduce this deficit in future, and advised: "By talking to your employer you can find ways of boosting pension savings and maximising the tax advantages that pension savings can bring." The survey also found that around a third of UK workers aged 55 plus believed they would never be able to afford to retire completely. Ms Brown said: "Prudential believes people should, ideally, start saving for their retirement as early as their twenties or early thirties instead of putting off pension saving until later in life." Due to problems with spam only SalfordOnline members can now leave comments. Becoming a member of SalfordOnline only takes a minute, just hit the red Join Us button at the top right hand side of the page to create your Personal account. Got a news story? Need help with publicity for an event in Salford? Send it to newsdesk@salfordonline.com or call the SalfordOnline newsdesk on 0161 789 5377. |
