Women’s savings are worth 33% less than men’s, according to new research from the Fawcett Society. This gender savings gap is even bigger than the much better documented 17% gender pay gap.
Fawcett’s research uncovered a worrying picture: women’s saving is much more likely to be disrupted than men’s by life events such as childbirth or divorce.
Key findings
* Young women save at relatively equal levels to young men.
* Divorce is particularly catastrophic for women’s savings. Our research showed the now widespread idea that women now have the advantage in divorce to be a myth. In fact, men’s saving levels recover after divorce, women’s don’t.
* Mothers are less likely to be saving for themselves than fathers, particularly in the early years of a child’s life
See full Press Release.
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