View more on these topics

Women’s private pension pots outstrip men’s, says ONS

File image of a pension savings potThe gap between what women earn and save compared to men continues to grow according to Office for National Statistics figures released today.

Analysis for young people aged 16 to 29 shows the level and growth of median annual earnings were generally lower for women than men whether they were degree or school-educated or had no qualifications.

Men in this age group with a university education in London earn, on average £27,081, while women with same background earn about £24,767.

Historically, men have had a substantially higher median pension value than women.

However, that trend has begun to reverse in recent years.

Numbers from the ONS show women aged 16 to 24 have about £3,900 in a pension compared to men who have about £3,000.

The gap widens at ages 25 to 34 when women have about £14,400 in a pension, while men have £12,100.

Quilter head of retirement policy Jon Greer says with lower earnings, but more in their pensions, it seems logical to conclude younger women are better savers than their male peers.

He adds saving more from a young age is of vital importance because of compound interest and although auto enrolment has gone a long way to boost pension participation in the workplace extra saving is crucial.



Govt rebuffs calls to compensate Waspi women

The Government has rejected calls to compensate women born in the 1950s who have campaigned for an increase to their state pension. Pensions minister Guy Opperman dismissed proposals to hike these pensions as “unaffordable” when he responded to an opposition debate on the issue in parliament yesterday. Opperman went on to add the proposals “cannot […]


Waspi women should be given £15,000 each, Lib Dems say

The Liberal Democrats have called on the Government to correct the “injustice” faced by the Women Against State Pension Inequality Campaign by giving them £15,000 each. Stephen Lloyd, the Liberal Democrat spokesman for work and pensions says the Government should do so immediately. Lloyd argues successive administrations have failed to help women who are set […]


Labour to press Government on Waspi state pension reforms

Labour also outlined its support for Waspi in its manifesto for the June election Labour is to call on the Government to lower the retirement age for women born in the 1950’s, allowing them to retire aged 64 on a reduced state pension, rather than aged 66. According to the Independent, in a speech at […]

Inside Fundsmith’s new investment trust

Last month, star manager Terry Smith announced he was throwing £25m of his own money behind a new investment trust, Smithson. Ahead of its launch, Money Marketing editor Justin Cash sat down with Simon Barnard and Will Morgan, the fund’s managers, to talk strategy, as well as their thoughts on some of the hottest topics […]

Help to buy – ISAs and LISAs

Melanie Tynan – Financial Capability Project Manager   House prices continue to rise in many parts of the UK with cities like Manchester recording increases of 6.6% and higher in the last year, according to the latest Hometrack house price index*. This can make it seem harder than ever for first-time buyers to get a foot […]


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. Ironically conflicting somewhat with what Adrian Boulding is saying in his article.

    Makes me wonder if those women of an older age chose not to save, chose to rely on their husbands pensions and yet somehow according to Adrian this means they were somehow treated unequally and still are…

    • Also while the older woman were in and out of the labour market they wouldn’t have had access to pension savings; if their husbands died half the income typically disappeared; they may have been encouraged to pay less NI because of their husbands; and if they left they might not have been able to access the pension rights. The differing experience of the babyboomers and the millennials are not that surprising.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm