UK. Women’s pensions take the biggest hit after a divorce, with them retiring on a quarter of men’s retirement pots
Divorced women are retiring on pensions a quarter the size of men’s, but break-ups take a financial toll on both genders, new research shows.
Women who split with their partners reach retirement with savings of around £26,100, while divorced men have £103,500 by the time they stop work.
That vastly undershoots the £51,000 and £156,500 which women and men who are not divorced retire on respectively, according to the study published by NOW: Pensions.
The figures highlight the huge overall gender disparity in pension wealth, but reveal divorced women fare worst of all financially.
The sums for pension pot size at 65 are the median, meaning midpoint, figures drawn from the Understanding Society survey which covers 40,000 households and some 4,000 retired people.
The study, funded by the Economic and Social Research Council and a consortium of government departments, was analysed by the Pensions Policy Institute thinktank on behalf of NOW: Pensions.
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