Prudential pensions research reveals women's fears

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Prudential pensions research reveals women's fears

Many British women could find themselves retiring with a much lower annual pension income than their male counterparts.

At least that is what new figures published by Prudential have suggested, which show that 2.76 million women who plan to retire this year could receive £6,642 less than men.

This, the financial service provider claimed can be attributed to the fact women still generally earn less money than men.

Moreover, women's pensions take a serious blow when they take time off work to have children.

Prudential annuities business director Karin Brown advised that women can escape this predicament by contributing to pensions earlier.

"[This] will mean people can feel confident that they are going to have enough money to live off when they do come to retire and this is vitally important for women who expect to receive smaller pensions than men," she explained.

This comes after the organisation revealed that a total of 3.23 million UK adults who plan to retire in 2009 are expecting to receive £2.87 billion less than those who retired last year.

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