28th October 2013
The latest UK women’s pension savings figures revealed
It’s just over a year since the start of the one of the biggest revolutions in workplace pensions saving, with the introduction of automatic enrolment. The early signs are good with fewer than one in ten opting out in the first month after being enrolled. However, there is no room for complacency.
The continued squeeze on the cost of living has made it much harder for many women to consider saving for their retirement and, as in previous years, the gender pay gap has played a significant part in explaining why this is. Indeed, the research in this report shows that women and men who earn similar incomes save similar amounts.
It’s against this backdrop that Scottish Widows publishes its ninth annual report on women and pensions. Once again, there is a noticeable gender divide when it comes to retirement saving, with fewer women than men feeling optimistic about retirement.
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