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Men save twice as much for their pension as women, says survey

A new survey shows men will be better off in retirement than women. The study of more than 1,000 ...
Newstalk
Newstalk

12.27 18 Apr 2014


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Men save twice as much for the...

Men save twice as much for their pension as women, says survey

Newstalk
Newstalk

12.27 18 Apr 2014


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A new survey shows men will be better off in retirement than women.

The study of more than 1,000 people on pensions shows men put away at least €4,000 a year, while women only manage to save €2,000 for their retirement.

The research was carried out by Standard Life. They say people need to be saving more in order to live comfortably when they give up work.

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Standard Life said €4,000 per annum would not cover a relatively modest grocery bill of €100 per week or €5,200 per year.

It adds that the average Irish woman will be even worse off, being unable to afford a weekly grocery bill of €50.

The survey also found that 59% of adults do not own a private, company or work scheme pension, and just 41% have their own pension pot.

The average monthly amount saved into a pension is just €145. Aileen Power is head of corporate communications at Standard Life.


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