HR File: Closing the gender pension gap

It is 50 years since it became illegal to pay women less than their male counterparts, yet the gender pay gap means women are still paid 15.5% less than men. The financial gap gets a whole lot wider when women reach retirement, with an even bigger difference in the gender pension gap.

If we start with the gender pay gap, which is the difference between the average earnings of men and women, this will help us to understand the gender pension gap. Recently the Office for National Statistics (ONS) confirmed the gender pay gap is reducing, albeit at a fairly slow rate.