Retirement: Women £6,500 worse off than men each year

PrudentialA new report has shown how the gender pay gap extends into retirement, with women enjoying considerably lower incomes than men. The research, carried out by Prudential, found that women are on average £6,500 per year worse off than men. To compound the problem the Prudential also found that women retiring in 2013 will have the lowest income since 2008. The Prudential survey, which is produced annually, found that women have average incomes of £11,750 per year, made up from a combination of ...

Couples fail to plan for pension income in case of death of one partner

More than half of over-forties yet to retire could lose their pension if their partner dies according to a survey carried out by pension provider Prudential. The firm surveyed over 1000 adults and found that less than a fifth of participants had talked about the difference between joint or single life annuities with their other half. It also concluded that almost 40% of couples have failed to make sure that their pension income will continue to be paid out in case of the death of their partner. About 13% of those polled said they did not know what would happen to their pension income if their partner were to die.