A 35% pension wealth gap and average £200k pots at age 55 reveal a UK retirement crisis. With only 8.6% receiving financial advice, many are navigating retirement planning without professional guidance.
Gender pension wealth gap
Pensions Policy Institute
Average pension pot at age 55
DWP Analysis
Adults get financial advice
FCA Financial Lives 2024
Pensions Policy Institute analysis
• Only 8.6% of UK adults received financial advice in the past year
• Women are underrepresented in financial advice access
• Lower-income households have significantly less access
• Personalised guidance tools could help close the access gap
"92% of eligible employees participate in auto-enrolment, but the system doesn't address the gender gap in pension wealth accumulation."
DWP Auto-Enrolment Analysis
Making retirement planning clearer and more accessible for everyone
Personalised guidance that makes retirement planning available to anyone, regardless of income or advisor access.
Scenario planning that helps women make the most of their situation despite career breaks and changing life circumstances.
"The gender pension gap is a systemic issue that requires systemic solutions. While auto-enrolment helps, it doesn't address the fundamental differences in career trajectories. Personalised guidance that adapts to individual life circumstances could help close this gap."
Syd Lawrence
CEO & Co-Founder, Delphina
Career breaks for childcare, part-time work, lower lifetime earnings due to pay gaps, and longer life expectancy for women all contribute to the pension wealth disparity.
While auto-enrolment helps, it doesn't address underlying issues like career breaks and pay gaps. Women often contribute less due to lower earnings during child-rearing years.
The average pension pot for someone aged 55 is approximately £200,000 according to DWP analysis, but this varies significantly by gender and income level.
Personalised retirement projections can account for individual circumstances like career breaks, providing guidance that traditional calculators often miss.
The state pension age is currently 66 and is rising to 67 by 2028, affecting both men and women equally under current UK legislation.
Career breaks reduce pension contributions and future earnings potential, creating a compounding effect that widens the gender gap over time.