Divorced women are missing out on pensions wealth, with some losing hundreds of thousands of pounds in a break up, a former minister has said.
Sir Steve Webb said women end up as “poor relations” when it comes to pensions following the end of a marriage.
The average over-50s married couple has three times the pension wealth of the average divorced woman of the same age group, according to analysis from Royal London, the pensions provider.
Couples over 50 typically have a £454,000 pot compared with the average £131,000 for divorced women. Meanwhile, divorced men in the same age group have pension wealth of about £235,000.
That would seem to mean that it’s the men who go out and make the earnings which lead to their having pensions wealth, wouldn’t it?