TUC warns gender pension gap leaves women £7,600 worse off per year

Retired women in the UK are losing out on an average of £7,600 a year compared with men due to the gender pension gap, the TUC has warned.

New analysis revealed the gap in retirement income between men and women now stands at 36.5% – more than double the gender pay gap, currently 13.1%.

The TUC said the shortfall is so severe that, in effect, retired women stop receiving pension income more than four months before the end of each year.

The union body pointed to unpaid caring responsibilities, persistent pay inequality, and historic differences in the state pension system as the main drivers of the disparity.

Women are five times more likely than men to leave paid work to care for children or relatives, missing out on workplace pension contributions.

BME and disabled women are disproportionately affected.

TUC General Secretary Paul Nowak said: “Everyone deserves dignity and security in retirement. But right now, too many retired women have been left without enough to get by. We must make sure that these inequalities are addressed for future generations.

“That’s why reviving the Pensions Commission – bringing together unions, employers and independent experts – is a vital step forward.