What is the
Gender Wealth Gap
The difference between average wealth of men and women
The wealth gap measures the difference between average wealth of men and women, as a proportion of men's wealth.
On average, women have
35%
less wealth
than men
At retirement women have
49%
less wealth
than men
Details of
Gender Wealth Gap
The gender wealth gap grows as women get older and women are disadvantaged at retirement
Average wealth by Age
As much as 50% of women's wealth is shared wealth, such as property, further reducin actual wealth
The majority of men's wealth is private wealth
Average wealth at retirement
Drivers of the
Gender Wealth Gap
The gender wealth gap grows as women get older and women are disadvantaged at retirement
The Pay Gap
The pay gap is driven by more women than men working part-time in lower padi roles, often in the underfunded public sector.
13%
Women earn £2.39 less per hour
The Pensions Gap
90%
Differences in pension schemes and contributions, are often linked to career breaks and career patterns leading to women having smaller pension pots in retirement.
Poverty
Women are disproportionately affected by poverty, particularly single parents and often forgoe their own needs for the sake of others.
Women and poverty | National Education Union
Motherhood and Unpaid Care
59%
Women are more likely to provide unpaid care (child care and elderly care) than men and to take career breaks.
Financial Confidence
Women are less likely to have experience in investing resulting in less financial confidence and opting for less risky, lower return investments.
Debt
As women are disproportionatelyaffected by poverty, they are more likely to carry debt including student loans.
Closing the
Gender Wealth Gap
What can be done to close the gender wealth gap
Help Yourself
Enrol in workplace pensions and / or private pensions
Consider the affect of career breaks on your future wealth
Consider shared investment with your partner
Save in interest bearin accounts
Learn about investing
Taxation
Introducing a Wealth Tax to increase funding for social services
Equalising capital gains with income tax rates to increase funding for social services
Services and Support
Introducing a carer's credit
Providing free financial literacy training
Supporting women led businesses to inprove women's economic participation
Law changes
Pension sharing for un-married couples
Pensions sharing on divorce
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