Men ‘getting better state pension deal’ than women, research suggests
Research carried out by Which? has suggested that men get a ‘better state pension deal’ than women, with men receiving almost £29,000 more than women over the course of an average 20-year retirement.
The consumer group stated that ‘significant disparities persist’ in regard to the UK’s state pension gender gap, with the average man typically receiving £153.86 per week and the average woman receiving £125.98 a week.
However, the research also suggested that the state pension gender gap has narrowed slightly. In August of last year, the average state pension payment received by women equated to 81.9% of that received by men – a rise when compared to the figure of 79.7% recorded in August 2015.
Commenting on the research, Harry Rose, Money Editor at Which?, said: ‘Our evidence shows how variable people’s state pension payments still are. Many pensioners will be shocked by the differences in average payouts to men and women, and those qualifying under the old and new systems.’
A spokesperson for the Department for Work and Pensions (DWP) stated: ‘Around 650,000 women reaching state pension age in the first 10 years will receive an average of £8 per week (in 2015/16 earnings terms) more, due to the new state pension valuation of their national insurance record.’