The state pension forms a significant part of retirement income for older people, many of whom are reliant totally on the sum. However, when private and public pensions are added together, a distinct disparity between sexes has been noted.
Women in Britain are living on £26 per day, compared to the £44 of retired men, according to research from Women Against State Pension Inequality (WASPI).
The campaign group analysed the latest figures from the Department for Work and Pensions (DWP) and the Office for National Statistics (ONS).
According to the ONS, men aged between 65 and 74 have £182,700 in private pension savings.
This is compared to women of the same age who have just £25,000 saved up.
READ MORE: ‘It’s un-British!’ Pensioner, 75, furious as state pension sum frozen
“If women had known they were going to retire up to six years later than they thought, they would have been able to plan better.”
The Parliamentary and Health Ombudsman (PHSO) has been looking into whether state pension age changes were amply communicated with 1950s born women.
Last summer, the Ombudsman stated it found “failings” in the way the DWP communicated changes to women.
WASPI are now campaigning for a one-off compensation payment from the Government to help those impacted.
A DWP spokesperson told Express.co.uk: “The Government decided over 25 years ago that it was going to make the state pension age the same for men and women as a long-overdue move towards gender equality.
“Both the High Court and Court of Appeal have supported the actions of the DWP, under successive governments dating back to 1995, and the Supreme Court refused the claimants permission to appeal.
“Separately, Automatic Enrolment has helped millions more women save into a pension, with participation among eligible women in the private sector rising from 40 percent in 2012 to 86 percent in 2020 – equal to that of men.”
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