Pension pot for women 60% less than for men

Women find themselves in the unenviable position of facing into retirement with a pension pot 60% less than their male counterparts can expect to enjoy, a new wide-ranging study has found.

This means women have to draw from a smaller pool of assets for a longer period of time in retirement, according to Mercer Ireland pensions expert Mairead O’Mahony.

“This means financial planning becomes even more important for women. Organisations who recognise and provide for the unique needs of women when it comes to financial planning will distinguish themselves in attracting and retaining female talent,” Ms O’Mahony added.