Mind the pensions gender gap
Posted by Robin Powell on October 31, 2017
We’ve heard a great deal lately, certainly in the UK about the pay gap between men and women. It is, of course, very unfair that women are paid less than men for doing the same job. And yet, when it comes to pensions, the gender gap is far bigger.
According to a recent report by Mercer, the average European woman retires with a pension pot 40% smaller than the average man. That compares to a pay gap of 16%.
What makes this issue even more serious is that women, on average, tend to live about two years longer than men. In other words, women need more money in retirement than men do.
So, why is the gap so large? What can be done about it? And what can women do to ensure they don’t fall behind?
I’ve been discussing all of these issues and more in this video interview with Dr Ella Rabener, co-founder of Scalable Capital: