News
Women ‘still decades away’ from achieving pension equality
The latest figures released by the Office for National Statistics (ONS) show a higher proportion of women than men in workplace pension schemes.
Insurer Royal London notes that this is likely to be down to the fact that pension membership rates are much higher in the public sector, where women make up a larger proportion of the workforce.
Nevertheless, Royal London’s head of policy Steve Webb warns that women are still a long way off achieving pension equality with their male counterparts.
Whilst it is great news that more women are now members of workplace pensions than in the past, he notes that there is still a pension gulf between men and women.
“Being a member of a pension is a great start, but the size of your pension will depend on how much you earn and how much you and your employer contribute.
“On both of these fronts, inequalities in the jobs market mean that women are still lagging far behind men when it comes to building up decent pensions. On current trends, women’s pension equality could still be decades away,” he concluded.
Related Posts
- What do the pension auto-enrolment changes mean for your take home pay?
- Big pensions shake-up will add £500 a year to retirement pots
- Pension Awareness Week: Savers could lose over £250k by reducing pension contributions during cost-of-living crisis
- Pension Awareness Week: Over a quarter of Brits know ‘little or nothing’ about pensions
There are 0 Comment(s)
Yorkshire BS launches 7% savings account – but there’s a catch
A regular cash savings account has been launched by Yorkshire Building Society paying 7% on a maximum of £500...
Mortgage wars heat up as Santander, Virgin, NatWest and HSBC slash rates
The ongoing mortgage rate reductions are heading towards a third month, with existing customers and new buyers...
Homebuyers have 18 months left to avoid stamp duty hike
Future homeowners have 18 months to dodge a stamp duty hike which could cost buyers around £2,500, analysis ha...
Ryanair jetting towards US flights for £10
Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...
Investing in car parks: a good vehicle for income seekers?
As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...
A quick guide to guarantor loans – in association with Guarantor Loan Comparison
Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...
Results round-up: Companies to watch this week
Mulberry and more will face the music this week.
Product launches of the week
Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.
Money Tips of the Week
© AE3 Media Ltd, 21 Great Winchester Street, London EC2N 2JA, Company.