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Pension gap between men and women continues to grow

It has been revealed that the pension gap between men and women continues to grow with the average male retiring in 2010 likely to receive a pension income in the region of £19,593 a year against just £12,169 for a woman retiring at the same time. The gap between the two has increased by £782 over the last 12 months and while much of the gap can be credited to various career breaks many women have taken to have children, etc, it is still a worrying factor as we look forward to the future.

Unfortunately, it looks as though women in a relationship with a man will be more dependent than ever in the future which is not something we associate with the increase in equality which the UK government has been pushing through over the last few years. It is also alarming to see that the individual twelve-month reduction in forecast pension fund income saw a 3.5% drop for men with an 11% drop for women. This is something which cannot be allowed to continue although how the government will rectify the situation in the short to medium term remains to be seen.

It seems that each and every day we see a new issue arising in the UK pension arena which is causing more and more concern for those looking ahead to retirement.

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