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It's a well known fact that women are likely to have significantly less retirement income than their male counterparts. Research has identified that on average women at the age of 65 have an average pension fund 1/5th the size than that of men.¹
There are many reasons for this, not least the impact of the Gender Pay Gap, but also the fact that women are more likely to take on caring responsibilities in families and to be in lower paid or part-time roles.