Women can expect to be shortchanged by their pensions to the tune of nearly £47,000 ($59,000) over their career, according to a new study released by Zurich Insurance.
The inaugural Zurich Workplace Savings Barometer found a significant gap between how much money men and women receive in employer pension contributions over their working lives. The shortfall has been attributed to a combination of factors that can disproportionately disadvantage women: The gender pay gap, which leads to a lower value of employer contribution as a percentage of salary, the fact that women are more likely to take career breaks to raise a family; and because men typically work in sectors with more established—or more generous—pension schemes.

 

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