Women's pension savings two-thirds the value of men's

WOMEN are saving less than men for their retirement - and the pension gender gap is widening, a report warns.

- Sarah O'Grady

Men build on average a £63,222 pot for their old age while women save £43,117.

More than half of women (56%) worry they will not have enough money to pay bills when they retire as do 44% of men.

As high inflation forces up the cost of living, outpacing investments and pension savings, 16% of women fear they will never be able to afford to stop working.

Samantha Gould, financial adviser at workplace pensions provider NOW: Pensions, said: "Whilst pay gaps, savings gaps and caring gaps may have narrowed compared to previous years, persistent pension inequalities still remain with detrimental consequences for women.