5 ways to close the gender pension gap

Women could face a gender pension gap of more than £85,000 by the time they reach retirement age, but it starts from the very moment they enter the workplace. Ahead of International Women’s Day (8 March), we look at five steps to help boost your pension.

Woman looking at row of traffic cones with gap
(Image credit: Martin Barraud)

Most people undersave for retirement, but women in particular are at risk of pension shortfall due to the gender pension gap. It is one of the biggest inequalities women face when it comes to wealth, with the average woman retiring with a pension pot that is around 45% smaller than a man’s.

Pension wealth data published by the Office for National Statistics (ONS) in January 2025 shows that, between 2020 and 2022, the average man had £191,600 at retirement age. Meanwhile, the average woman had £106,300 – a gap of £85,300, or 45%.

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Figure 1: Private pension wealth by age and gender

Age group

Men

Women

Gender pension gap (£)

Gender pension gap (%)

16-24

£6,800

£5,000

£1,800

26%

25-34

£24,600

£13,500

£11,100

45%

35-44

£48,300

£34,000

£14,300

30%

45-54

£108,100

£57,900

£50,200

46%

55-64

£193,900

£105,200

£88,700

46%

65-74

£191,600

£106,300

£85,300

45%

75+

£84,000

£42,800

£41,200

49%

Average

£75,700

£42,500

£33,200

44%

Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.