12:52 31 March 2013
A recent survey conducted by insurance giant Prudential revealed that male retirees are more likely to benefit from what they call “generation gap.” As men usually have uninterrupted work patterns, they are more likely to get the maximum amount of pension. Most of them also qualify for full basic state pension, currently at £107.45 a week.
On the other hand, women are more likely to receive much less. Women who participated on the survey say they expect £11,750 pension. This huge pension gender gap of £6,500 could be used for foreign holidays, weekly trips to restaurants, etc.
Mel Duffield, head of research at the National Association of Pension Funds explained the gap saying: ‘The pensions gender gap is a serious issue.
‘Women often take career breaks or work part-time to raise children or care for relatives.
‘This can leave them on lower earnings and with broken work patterns, severely impacting on the pensions they build.’
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