Talking Point  

Research suggests women are better savers than men

She said: “However, at a societal level, the data clearly shows that closing the pay gap is key to putting women on an equal footing with their male counterparts.

“If companies don’t step up to equalise pay at every level of seniority, the pay gap will have a life-lasting impact on British women well through retirement.”

For Kay Ingram, director of public policy at national firm LEBC, the fact that women appear to be better savers then man “may reflect the self-realisation that more women expect to have gaps in their careers, due to taking on caring responsibilities later on, and so are keener to save more from current earnings than men”.

She said: “Men may have a greater expectation of rising career earnings, and so are more comfortable putting off some saving now, in anticipation of future saving opportunities.

“However, this view may be mistaken as it ignores the benefits of compounding savings over the longer term coupled with the benefits of pound cost averaging investment over a longer period.”

Gem Durham, independent financial adviser at Obsidian, argues that it isn’t “necessary or helpful to say one sex is the better saver”.

She said: “I’m not sure it’s true. Having a good attitude to saving is in part about understanding and appreciating deferred gratification, I know many men and women who are good at this and many men and women who are terrible! 

“It’s also about understanding the value of the saving – you need to know why the deferred gratification is worth it.

“Auto-enrolment is a great idea, but if we really want a nation of savers we need to start educating at school and getting parents involved too.”

maria.espadinha@ft.com