Marvin OnumonuMen had average pension pots of £92,000, compared to £39,000 for women, research from Royal London found.
For every £1 a man had saved, a woman had 42p.
Men’s personal assets averaged £145,000, while women had £79,000.
Single and divorced people were more vulnerable, with average pension pots of £30,500 and £39,500, well below the £97,000 average for married people.
Confidence in managing pensions showed a similar gap, with 29% of women saying they felt confident in combining or transferring pensions, compared to 44% of men.
The research comes ahead of the Government’s expected update on the second phase of the pension review.
Sarah Pennells, consumer finance specialist at Royal London, said: “It’s deeply concerning that for every £1 a man has saved towards his pension, a woman has just 42p – this isn’t just a statistic; it’s a glaring inequality.
“Women typically retire with far less in their pension pots than men, and that’s no accident.
“It’s the result of lower average earnings, time out of the workforce for caring responsibilities, career breaks, and part-time work.”
Pennells added: “It’s encouraging to see a continued focus on how the Government plans to support growth and reduce inequality.
“The upcoming second phase of the Government’s pensions review presents a valuable opportunity to explore a range of issues affecting retirement outcomes, including the gender pensions gap.
“While any proposals may take time to implement, the review can help lay the foundations for long-term improvements in the pension system.”
She said: “In the meantime, there are steps that employers can take, such as ensuring that there are equal opportunities for career progression, reminding employees of the full range of workplace benefits available, promoting career progression, offering flexible working policies where possible and providing training for managers and employees.
“This training could cover menopause and how to create a supportive environment so women experiencing symptoms don’t feel they have little choice but to reduce their hours or leave their job entirely.
“We need to move beyond simply encouraging people to save more and make the system work better for everyone.”
She added: “That means addressing the structural barriers that hold women back from building up their pensions.
“Reforming automatic enrolment is a key step, bringing more low-paid and part-time workers, many of whom are women, into workplace pensions.
“We also need to look at how childcare costs and caring responsibilities affect a woman’s ability to save and ensure that policies reflect the realities of modern working lives.”
