The issue of gender equality has been around for a long time and is regularly getting widespread coverage across the media (click here for a recent example). In fact, the REC published a report in which looked into gender diversity and the role of good recruitment (if you haven’t already read the report you’ll find it here).
The gender pay gap is well-understood within the recruitment industry and with the recent introduction of compulsory reporting has meant it is now receiving a good deal of attention from employers and employees alike. However, the gender pension gap has been largely ignored until recently and the gap between men and women in this area is even more pronounced – women at the age of 65 have an average pension fund just 1/5th the size of their male counterparts.
Earlier this year we published a guide to closing the gender pension gap, its causes and what can be done to tackle it. Some of these steps we can take as individuals or family units, however, there are key areas where employers can make an important difference, and here are two examples:
There are many other ways in which working women, their families and their employers can help narrow the gap. Perhaps the simplest is to focus on education – of the workforce and as an organisation. As the old saying goes forewarned is forearmed – a good awareness of the consequences can enable employers and individuals to make better choices.
You could start by downloading LEBC’s Gender Pension Gap Guide.
 Solving Women’s’ Pension Deficit to Improve Outcomes for All, Chartered Insurance Institute, Insuring Women’s’ Futures Programme
Get in touch with LEBC today by contacting Andrew Marsden, Senior Employee Benefits Consultant via phone on 020 3437 1311 or email firstname.lastname@example.org.
Please remember, no news or research item is a recommendation or advice to buy. LEBC Group Ltd is not responsible for accuracy and may not share the author’s views. A pension is a long-term investment. The fund value may fluctuate and can go down. All information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation, are subject to change. Taxation advice is not regulated by the FCA. LEBC Group Ltd is authorised and regulated by the Financial Conduct Authority. Registered address: LEBC Group Ltd, 1285 Century Way, Thorpe Park, Leeds, West Yorkshire LS15 8ZB. LEBC Group Ltd is entered on the Financial Services Register under reference 760755. Registered in England and Wales. Company number 03995199.