Insight & Analysis

Press release: Women’s retirement prospects dealt further blow as COVID contributes to widening gender pension gap

Published: Aug 2021

10th August 2021 – Responding to figures from more2life showing the gender pensions gap has widened to more than £180k among the over-55s with the gap increasing by £26k in the last year as a result of COVID, Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said:

Newspaper press release

“These figures are concerning and back up our own research showing women are struggling to recover financially in the current environment as a result of redundancy and furlough. Our research showed 62% of women worried about being able to afford to pay enough into their pension in comparison to 57% of men.

“However, there are things that women can do to plug the gap. It’s not too late to make a difference to your pension value by continuing to contribute after the age of 55. You should also check with your employer to see if they will match any further contributions as this can give your retirement planning a real boost. State pension and benefits also form an important part of your retirement income and so you should check what you are entitled to and whether there are any gaps that need to be filled.”

All our content is free, just register below

As we move to a new and improved digital platform all users need to create a new account. This is very simple and should only take a moment.

Already have an account? Sign In

Already a member? Sign In

This website uses cookies and asks for your personal data to enhance your browsing experience.