Prudential pensions: Women receive less than men

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Prudential pensions: Women receive less than men

Wed 17th Feb 2010

The average amount paid out to women in their pension is likely to be less than what men receive, according to Prudential.

Women who retire this year are expecting to receive an average of £12,169 in annual payments, while men are anticipating collecting £19,593 each year.

This gap is £782 wider than it was in 2009, a growth that developed despite there being an expected decrease in pensions incomes in 2010.

Karin Brown, director of pensions and annuities at Prudential, said that the difference in the pension incomes is often down to the choice made by many women to take a career break after they have children.

However, ladies can boost their pensions by still adding to company schemes during their maternity break or asking their partner to make a contribution on their behalf.

Prudential warned last month that many people were failing to save any cash at all for their retirement, with one in five people leaving work this year expecting to rely on state payments.

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