VIDEO: What’s behind the pension savings ‘gender gap’?
In fact, 27% of women don’t know how much money they have in their pension pot, compared with 15% of men.
There are several reasons why women are less engaged than men when it comes to pension planning – including years spent out of the workforce to raise children – but avoiding the issue is dangerous. Women need to have accumulated a pension pot of around £750,000 to be able to retire with an annual income of £20,000.
In this video, we delve deeper into the pensions savings ‘gender gap’ issue and discuss what women can do to build up a nest egg for retirement.