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2011 Sees Women Retire With 50% Less Retirement Income Than Men

New research reveals that men retiring in 2011 expect to receive 50 per cent more retirement income than women.
Finance - 17 May 2011   Download IconContent available for download:  
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New research reveals that men retiring in 2011 expect to receive 50 per cent more pension income than women.

Men expect to retire on average incomes of £19,400, where as women anticipate incomes of £12,900. The retirement income gender gap is £6,500 this year, which is £900 smaller than last year, but the gender gap still remains stubbornly wide.

Moreover, 28% of women planning to retire this year have no savings in private or pension company schemes compared with just 10% of men.

. Introduction:

New research released today reveals that men retiring in 2011 expect to receive 50 per cent more income than women. This gender gap in retirement income is worrying news for British women especially as almost a third of women planning to retire this year have no savings in private or company pension scheme, compared with just 10 percent of men.

So why is there such a big gender gap when it comes to retirement incomes, and what can we do to close the gap?

Joining us to discuss this further is Vince Smith-Hughes, Pensions Expert from Prudential.

. Suggested Questions:

What is the retirement income gap between men and women in our area?

Why are men expecting to receive so much more when they retire?

Why does the gender gap remain so stubbornly wide?

How can women help to boost their retirement income?

What general advice have you got for anyone looking to secure their retirement income?

Where can we find out more information?