Symetra Retirement’s Post

"Today, women retire on average with pension savings of £69,000, compared to £205,000 for men. In order to close this gap, a girl would need to start pension saving at just three years old, to retire with the same amount of money as working men."* We're still here. Big sigh. Even though we know what leads to this - 💡 Gendered divisions of labour, especially when it comes to childcare 💡 The gender pay gap 💡 A restrictive auto-enrolment system .....we're still here. To make a change, we know that we need to do things like.... ✅ Reduce the age threshold for auto-enrolment for workplace pensions to age 18 ✅ Remove the £10,000 minimum lower earnings limit so those with jobs earning less than this (more likely to be women) can benefit ✅ Make affordable childcare available ✅ Close the gender pay gap entirely ✅ Share caring responsibilities equally ✅ Make sure that pensions are included in the marital assets when couples are separating or divorcing, and ✅ Introduce some form of family top up for carers - payment of the equivalent of an employer's contribution into carer's pension So why are we still here? Any thoughts? *Gender pay gap report 2024 by Now: Pensions, February 2024 #pensions #genderpensiongap #genderpaygap #workingparents #childcare #divorcetips #financialeducation

Gender Pension Gap Insight 🚹 Post-parenthood, women are twice as likely as men to adjust work hours for childcare, leading to 1.65M fewer women in UK employment. This choice impacts pensions, with part-time women potentially missing £92,000 in savings, emphasizing long-term financial concerns. Read more below! #capiorecruitment #genderpaygap #equality #paraplanner #financialservices

The gender wage gap and taking time away from the workplace for caregiving duties make saving for retirement a bigger challenge for many women. Click here to see how you can best save for retirement. https://lnkd.in/evcvRkct #UdellAssociates #WealthEnjoyment

The gender wage gap and taking time away from the workplace for caregiving duties make saving for retirement a bigger challenge for many women. Click here to see how you can best save for retirement. https://lnkd.in/eCW3tSd4 #UdellAssociates #WealthEnjoyment

The pension gap between men and women is a pressing issue that we need to address. According to a recent article in the i, women would need to start pension saving at just three years old to retire with the same amount of money as working men. This is not just due to the fact that women often take time out of the workplace related to childcare, but also because of lower rates of pay. As cuts in public services disproportionately affect women, this problem is not going away anytime soon. It's time that action is taken to ensure that women receive fair pay and equal opportunities to save for retirement. #GenderPayGap #RetirementEquality https://lnkd.in/em8fDB-T

If you want to equalise womens’ state pension age, you have to first equalise womens’ earning power. Funnelling schoolgirls into lesser-paid sectors, tolerating widespread workplace discrimination against pregnant women, mothers & menopausal/older women, banking their unpaid and low-paid care work to fund financial choices for men - and then scolding them for not saving, is not policy. It’s punishment for not being male. Women's state pension: Campaigners urge payouts as Waspi report due https://lnkd.in/eyzUWPuy

Single parents have the lowest average income for both men and women, according to the latest research. Data from NOW: Pensions has shown that single fathers earn 32 per cent less than the ‘average’ man, while women fare even worse, with single mothers earning 53 per cent less than the ‘average’ man and 37 per cent less than the ‘average’ woman.

We talk a lot about the sandwich generation and the impact on retirement. This article shows you a timeline of what the impacts are and why it's especially important for women to get ahead of retirement planning. https://ow.ly/uRqT30sARW1 #WomensHistoryMonth

Single parents have the lowest average income for both men and women, according to the latest research. Data from NOW: Pensions has shown that single fathers earn 32 per cent less than the ‘average’ man, while women fare even worse, with single mothers earning 53 per cent less than the ‘average’ man and 37 per cent less than the ‘average’ woman.

We talk a lot about the Sandwich Generation and the impact on retirement. This article shows you a timeline of what the impacts are and why it's especially important for women to get ahead of retirement planning. https://ow.ly/UOZh30sAxww #WomensHistoryMonth