Stat of the day: £16,000

The difference between the amount men and women put into their pension pot

by Elizabeth Anderson
Last Updated: 09 Oct 2013
Dreaming of a comfortable retirement? Well, ladies, you may have to keep dreaming - because figures released today have suggested it's far more likely to be a reality if you’re male. Apparently, Women typically have £38,000 in their pension pot, while men manage to squirrel away £54,000 – a whopping £16,000 difference. The latest pensions study by Scottish Widows also says it’s expected to get worse: more than half of women under 50 say they’re not preparing adequately for their retirement, an increase of 8% from last year. Apparently that's because many young women are inheriting mistakes made by their parents, who were able to live fairly well with minimum retirement assets. But in the current economic climate, young people are far less likely to be offered generous pension schemes to prevent the spiralling pension deficit. In this case, at least, it appears that mother doesn’t always know best.

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