Commenting on today’s UK Labour Market statistics, Helen Morrissey, pension specialist at Royal London, said:
“Today’s figures may show the highest employment figures for women since records began in 1971 yet we are still far from seeing women getting equal outcomes to men. Many women are in lower paid work or work part time and while this remains the case women will continue to receive poorer pension outcomes as they are unable to build up the savings they need for a secure retirement. While men’s earning potential can grow well into their forties we typically see women’s earning potential peak in their thirties. Women need to start their pension saving as early as possible to help them build a sustainable retirement income.”
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.