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Increase in female resignations in pensions sector

More women resigned from the pension sector in 2006 than the previous year according to the Chartered Management Institute and Remuneration Economics.

The institute suggests the gender pay gap may have contributed to the rise in resignations. Women in the sector saw a 5.5 per cent increase in pay while men saw a rise of 5.7 per cent reversing a trend lasting more than 10 years.

The survey of 42,205 individuals found female resignation rates are higher than the national average. Eight per cent of women in pensions resigned in the year to January 2007 compared to 5.6 per cent the previous year.

The figures are also higher within the sector than across the whole of the UK.

But the research found women are promoted at a faster rate than men. The average female team leader is 37, 5 years younger than her male equivalent.

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