Shock, Horror!

It suggested that women who retire this year will have an average annual pension of £13,671, compared to £20,313 for men. It means women will retire on £6,642 less a year than their male counterparts.

Given that women live a number of years longer than men, on average, there´s not really all that much surprising about this. Any given amount of savings, when translated into an annuity, will produce less income for a woman than it would for a man.

I suppose we could always forcibly equalise life spans to solve this "problem"……

7 comments on “Shock, Horror!

  1. How I wish that my dear wife had a pension as big as that of the average woman. Perhaps all women’s pensions bigger than a few thousand a year should be taxed at 100% to bring about equality for her.

  2. All these lovely “average” figures. Doncha just love ’em?

    Not so long ago I read in a well-informed source that the average private sector pension fund in the UK is about £25,000, sufficient to buy a level annuity of about £1,400 a year for a 65-yr old male.

    Something tells me, Watson, that the “averages” referred to are not averagely representative of the average. Public sector pensions again, perhaps.

  3. I see they are also trotting out one of your favourite canards:

    Karin Brown, annuities business director at Prudential, said: “It’s still a shock to see so many women retiring at such a disadvantage to their male colleagues.

    “The gender gap has become so firmly established because women have historically earned less than men, and still earn around 17 per cent less

  4. You might also just ask whether an apple is being compared with a pear. Are these figures based on identical ages and lengths of contribution? Is the actuarial position clearly stated? Precisely which pension schemes are both sexes in?

  5. They should take up smoking, some insurance companies give larger annuities for them, on the grounds they won’t live as long.

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