Pension pay gap is nearly closed with final push to reach gender equality

THE state pensions gender gap has narrowed to £1.80 per week on average for those who have recently started to claim it, according to Department for Work and Pensions (DWP) figures.

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Statistics covering December 1 2023 to November 30 2024, reflecting “inflows to the new state pension”, show that on average women are receiving 99.1% of the amount received by men.

The amounts for men and women are on course to be equal very shortly, the department said.

The data was obtained following a freedom of information (FOI) request by former Liberal Democrat pensions minister Sir Steve Webb, who is now a partner at consultants LCP (Lane Clark & Peacock).

Sir Steve requested data showing the average amount of new state pension received by men and women who had claimed within the latest 12 months for which the figures are available.

According to the FOI response, the average newly retired man now receives a pension of £209.95 per week, with the average newly retired woman getting £208.15.

The new state pension was introduced in 2016, simplifying the system.