UK - Women are more likely to face poverty in their old age than men, a TUC study claims.
Its report – Beating the Gender Poverty Gap – says that while single male pensioners have an average disposable income of £156 per week, single women have only £125 per week.
TUC general secretary-elect Brendan Barber said: “Even women lucky enough to be able to find work often find themselves earning so little they cannot afford to save for their old age.”
The TUC report blames the average difference in hourly earnings between men and women for the disparities in retirement.
It calls for a range of moves to help alleviate the problem including an increase in the minimum wage to between £5 and £5.30 by next year.
The TUC also wants a substantial increase in the basic state pension, its link with average earnings restored and the introduction of compulsory employer contributions.
Barber said: “With many women earning too little to pay into pension schemes, the TUC is concerned another generation of poor female pensioners is being created.”
*Liberal Democrat pensions spokesman Steve Webb says women get up to 15% less than men under defined contribution pension provision.
Webb also attacked the government for placing greater reliance on occupational pension schemes and not addressing basic state pensions requirements for women.
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