{"id":3991,"date":"2021-03-09T09:35:08","date_gmt":"2021-03-09T09:35:08","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=3991"},"modified":"2021-03-09T09:35:10","modified_gmt":"2021-03-09T09:35:10","slug":"gender-pay-gap-what-does-this-mean-for-pensions","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/gender-pay-gap-what-does-this-mean-for-pensions\/","title":{"rendered":"Gender pay gap \u2013 what does this mean for pensions?"},"content":{"rendered":"<p>Research suggests that the average woman in her twenties today will retire with \u00a3100,000 less in her pension than her male peers.<\/p>\n<p><!--more--><\/p>\n<p>If women want to close their gender pay gap, experts say they have to work around an extra 40 years, as women have lower average earnings, a higher likelihood of working part-time and a more substantial childcare burden.<\/p>\n<p>However, the Government states its pensions reforms have already helped millions of women save for retirement.<\/p>\n<p>Their research reveals that over 15 years of their careers, women save an average of \u00a32,200 per annum, whereas men can save an average of \u00a33,000.<\/p>\n<p>If women want to close the pay gap on their pension savings, they could increase their pension\u2019s contributions at the start of their careers by five per cent, according to experts.<\/p>\n<p>A spokesman for the Government&#8217;s Department for Work and Pensions says their \u201cground-breaking pension reforms, including automatic enrolment, have helped millions [of] more women save into a pension, many for the first time.<\/p>\n<p>\u201cPension participation among eligible women working in the private sector has risen from 40 per cent in 2012, to 86 per cent in 2019.\u201d<\/p>\n<p><strong>For more information or advice on pension-related issues such as contributions, please contact our expert team today to find out how we can help you.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Research suggests that the average woman in her twenties today will retire with \u00a3100,000 less in her pension than her male peers.<\/p>\n","protected":false},"author":2,"featured_media":3993,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,29,39],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3991"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3991"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3991\/revisions"}],"predecessor-version":[{"id":3992,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3991\/revisions\/3992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/3993"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}