Responding to figures from more2life showing the gender pensions gap has widened to more than £180k among the over-55s, with the gap increasing by £26k in the last year as a result of COVID, Helen Morrissey, Senior Pensions and Retirement Analyst at Hargreaves Lansdown, noted: “These figures are concerning and back up our own research showing women are struggling to recover financially in the current environment as a result of redundancy and furlough. Our research showed 62% of women worried about being able to afford to pay enough into their pension, in comparison to 57% of men.
“However, there are things that women can do to plug the gap. It’s not too late to make a difference to your pension value by continuing to contribute after the age of 55. You should also check with your employer to see if they will match any further contributions, as this can give your retirement planning a real boost.
"State pension and benefits also form an important part of your retirement income, and so you should check what you are entitled to and whether there are any gaps that need to be filled."
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