Pension warning: Women risk a shortfall of £143,000 in retirement | Personal Finance | Finance

“In minimising the gender pay rise gap, the positive impact to women’s pensions savings, over time, can also make a real difference.

“We’ve all seen the disproportionate impact the pandemic has had on women’s finances.

“It’s critical we don’t allow for the last two years to widen the gaps in gender pay any further and instead concentrate on empowering women to think about their financial positions today and well into the future.”

A man on an average salary of £37,817 (as recorded by the Office of National Statistics – ONS) who receives a pay rise every five years throughout his career, could see his salary grow to £75,748 by retirement age.