The Gender Pension Gap Hits £113,000: What Women Need to Know
Women are retiring with £113,000 less than men. Scottish Widows’ new report reveals why — and the practical steps you can take to protect your future.
Here’s something nobody tells you while you’re out smashing career goals and juggling life: there’s a silent money gap growing in the background.
Scottish Widows just dropped their annual report and, honestly, it’s jaw-dropping — women are retiring with £113,000 less than men. Yep, that’s six figures missing from our future selves.
And before you think “retirement’s miles away,” here’s the kicker: more than a third of women are heading towards poverty in retirement. That’s not a future-you problem. That’s a right-now problem.
Why the gap exists
We know the usual suspects, but it’s worth spelling them out clearly:
Career breaks for maternity leave or caring for family
Part-time work, meaning smaller paycheques and smaller pension contributions
The gender pay gap that refuses to disappear
Unpaid care, which still falls largely on women
These aren’t small things — they’re decades of decisions shaped by life, family, and circumstance.
Scottish Widows found that 58% of women close to retirement took a career break, compared with just 12% of men.
Women in their 50s have often spent five to seven fewer years in paid work than men — and those missing years compound into a huge financial gap.
A single five-year career break in your 30s can mean around £70,000 less in your pension by your late 60s.
And menopause is emerging as another turning point, with many women reducing hours or stepping back during peak earning years.
Each break, each pay gap, each unpaid hour — it all chips away at your pension pot. This isn’t a money-management issue. It’s a system built around uninterrupted careers, which simply isn’t how most women work or live.
The age factor no one talks about
At 25, retirement feels theoretical.
At 35, you’re thinking about childcare, mortgages, ageing parents.
At 45, it suddenly feels close enough to touch.
And here’s the kicker: women live longer than men, so we actually need more money to last through retirement — yet we’re saving less. It’s the financial equivalent of running a marathon in heels.
What you can do right now
It’s not too late. A few small moves can make a big difference later:
Find your pensions. If you’ve switched jobs, you probably have a few scattered around. Track them down.
If you’re in work, ask whether your employer offers enhanced contributions after parental leave or if they’ll match a higher rate.
Check your balance (and try not to panic — awareness is power).
Top up if you can. Even a 1–2% increase in contributions can snowball over decades. A £1,000 investment at age 20 could be worth about £2,500 (today’s money) by age 65 — versus ~£1,700 if started at age 40.
Ask your employer about contributions. Some offer enhanced contributions after parental leave or will match a higher rate — but you often have to ask.
And have the conversation at home. Your partner can contribute to your pension during career breaks or lower-earning years. It’s one of the fairest (and simplest) ways to keep savings on track when life isn’t split 50/50.
If you’re self-employed or not currently working, you can still open a pension. A personal pension lets you keep saving in your own name, and the government still adds tax relief.
💬 The real power? Talking about it.
Talking about pensions might not feel thrilling, but it’s quietly powerful. Your future self is counting on you — and she deserves security, freedom and peace of mind. Every small step — tracking pots, asking questions, conversations, nudging up contributions — pushes the gap in the right direction.
