Women’s average personal pension income 2.5 times lower than men’s last year – receiving £312 on average

by | Sep 9, 2023

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  • Including all pension incomes, women receive £18,824 each year on average, 22% less than men’s pension income

Personal pension income for single women was just £312 on average last year*, 40% less than the average £780 income single male pensioners received from the personal pensions they have, says Bowmore Financial Planning.

Whilst Bowmore says that the figures show that both men and women suffer from pension poverty in their old age, women generally have far lower personal pensions savings. 

Women’s pension contributions are typically smaller and less frequent than for men, fuelled by the gender pay gap.


To account for lower average incomes, women may need to contribute a greater proportion of their salary to pension payments. Their pension investment also needs to be smarter, for example starting their savings earlier.

Another factor is that women, who are often the primary “care givers” take significantly more career breaks than men, interrupting pension contributions.

The total pension income for single women (including state, occupational pensions and personal pensions) is £18,825 per year on average, 22% less than the £22,985 that single men received. This smaller gap is the result of a modest gender gap in the income drawn from a state pension.


Gill Millen (She/Her), Managing Director at Bowmore Financial Planning, says: “The gender pension gap needs to be closed, or women could face serious financial problems in retirement.”

“It is unfortunate that women do have to try harder and be smarter in their investments to ensure their pension is adequate for the retirement they want.”

“Contributing generously to a pension scheme as early as possible is a powerful way to help a pension pot grow healthily throughout a women’s career.”


*Year end March 31 2022, ONS data on single male and female pensioners ie those who are not a married couple of civil partners

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