A big gender split on pensions expectations has emerged in the UK, according to a report from Prudential.
Women expect to earn far less of a retirement income than men, a new report revealed yesterday.
The study, conducted by insurance giant Prudential, showed that the typical female planning to retire this year expects to earn £13,671 a year. This is dwarfed by the average male pension expectation of £20,313 a year.
Prudential also showed that the gender gap held true when it came to retirement dates. Around 18 percent of women said that they would work past their standard retirement age of 60 - compared to the five percent of men planning to work past 65.
Karin Brown, annuities business director at Prudential, commented: "It's still a shock to see so many women retiring at such a disadvantage to their male colleagues, despite all we know about the causes of pension discrepancies between men and women."
She added: "The gender gap has become so firmly established because women have historically earned less than men, and still earn around 17 percent less. When women have children, their pension contributions reduce significantly or stop altogether, and their state pensions often take a hit as well."
Figures from annuities specialists at Alexander Forbes showed earlier this week that retirement incomes have fallen in the UK over the past month. The firm said that the Bank of England's quantitative easing programme was serving to push down annuities rates, explaining the decline.
