United Kingdom - Women have barely half the pension savings of men - March 31, 2016

According to the report ‘The Under-pensioned 2016’, sponsored by the TUC, women have barely half the pension savings of men. The study, carried out by the Pensions Policy Institute, shows that women have, on average, £7,500 in savings in defined contribution schemes, compared to £14,500 for men. And women typically have £32,000 in pension savings in defined benefit schemes, whereas men have £62,900. The report reveals large pension disadvantages for women, ethnic minority workers, carers and the self-employed. The findings show that women, as well as having barely half the pension savings of men, also receive a far smaller state pension. Women receive 13% a year less than the average state pension and 25% a year less than men get from their state pensions. The ‘Under-pensioned 2016’ report says reasons for the disparities include workplace discrimination, job segregation and the lack of flexible working.

English: https://www.tuc.org.uk/economic-issues/pensions-and-retirement/equality-issues …

Report: https://www.tuc.org.uk/sites/default/files/TheUnder-pensioned.pdf

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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