Recent Government plans to raise the income level needed to trigger automatic enrolment in an employer’s pension scheme from £8,105 to £9,205 will reportedly exclude 340,000 people, around 75% of whom are likely to be women.
This is on account of women being more likely to work part-time, and more likely to be earning less than men generally.
This comes at a time when, according to pension provider Scottish Widows, women are already putting £776 less per year into their retirement funds than men, a gap that has widened by 10% since last year. The number of women not paying into pension funds at all is also reportedly rising.
The story was broadly commented in professional HR related publications last week after shadow pensions minister Gregg McClymont addressed issue