You’ve probably heard of the gender pay gap – but if you haven’t, it’s the inequality of average earnings between men and women. Men are earning significantly more than women, and it’s one of the biggest financial issues women face in the UK.But a problem that is discussed far less frequently is the gender pension gap, which sees men able to save significantly more for retirement than women. According to research from NOW: Pensions, women are reaching retirement age with pension savings of £69,000, just over a third of the £205,800 pension wealth that men will enjoy.
Here’s how the gender pension gap works, and how it affects you
