Years of gender-based earnings disparity have resulted in a significant pension savings gap between men and women, leaving many women in their 50s and 60s financially precarious. According to analysis, women are more than twice as likely to rely on financial support from their partner.
One in three women feel somewhat unconfident or not at all confident about their retirement provision meeting their needs, compared to 28% of men. Additionally, nearly half of women aged between 50 to 65 plan to continue working in some capacity after reaching State Pension age. Of this group, 13% plan to work the same hours, while 31% plan to work fewer.