Yet again, we’re faced with damning evidence that British women are drawing the short straw when it comes to their pension planning.
A myriad of factors play into this: social gender roles, lower rates of financial literacy, the gender pay gap and lower rates of auto-enrolment being the greatest barriers.
And these are all well-known facts – and have been for some time – so, frankly, why isn’t more being done to bridge the gap?
Targeted support from the government is therefore a must. Taking action through policy that boosts financial education, encourages active pension engagement, widens access to auto-enrolment and closes the gender pay gap is a vital step in empowering women to achieve the retirement they deserve.
