Women worried they will not have enough money in retirement due to pay gap

The gender pay gap is leaving women short when it comes to retirement.

A new survey by IPSOS Mori on behalf of Aviva has found almost 4 in 10 women are concerned they will not have enough money when they retire.

However the study has also found that only a quarter of women know how much money they will need when they retire.

"Where we have a gender gap when it comes to pay, we also have a gender gap when it comes to pensions, both in understanding and a feeling of preparedness for retirement," said Ann O'Keeffe, head of Individual Life and Pensions at Aviva.

"Women are spending less time on average in the workforce, with breaks for maternity leave, childcare, and there is a gender pay gap so this is leading to there also being a gap in pensions preparedness."