Large numbers of women hoping to retire this year are expecting to receive less money in their pension packets, it is claimed.
New research from Prudential shows they anticipate a £6,642 shortfall compared to men, which will total in excess of £42 billion.
"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," says Karin Brown, annuities business director at Prudential.
She adds that the gender gap is still present as women historically earn less than men and have their pension contributions limited when they have children.
Furthermore, the divorce rate has escalated over recent years and is expected to continue upwards, meaning women do not have their spouse’s income to financially support them.
Women need to start saving earlier in life, the experts at Prudential recommend, with those who are unable to do so having the ability to seek debt management advice.
According to the Fawcett Society, two-fifths of women in employment in Britain work part-time, compared with 11 per cent of men.