Employers and employees must push harder to make sure the gap between male and female pensions is closed, according to Angela Seymour-Jackson.
The managing director of workplace solutions at Aegon said employees needed to stay on top of their pension situation, but added that employers need to help them do so – as well as tackle the pay gap.
She said: “For women the challenge is to find time to understand exactly what is going into their pension, and to then make it work as hard as possible for them.
“The more women engage with their pension, the more likely they will be to hit their goals for retirement.
“But these improvements will only come if employers are pushing from one side just as hard as their female employees are pushing from the other, and the effort they put in will bring benefits for both sides.”
Ms Seymour-Jackson added that some companies have started issuing annual benefit statements that outline pension contributions and said more should follow suit.
Adviser view
Anna Sofat, managing director of London-based Addidi Wealth, said: “Women often opt out of pensions early because they are thinking about families and want flexibility.
“Most employers do a tick-box exercise around pensions unless they are big corporations.”
