To ask Her Majesty's Government what plans they have to publish guidance directed at women on how to prepare for retirement in order to help reduce the pension gender pay gap.
17 December 2021
Automatic Enrolment has significantly increased the number of women saving towards a workplace pension. In 2012, 40 per cent of eligible women were participating in a workplace pension compared to 86 per cent in 2020.
MoneyHelper, delivered by the Money and Pension Service (MaPS), provides guidance to people of all ages on all pension issues. This already covers many aspects that impact women’s pensions, including maternity leave, returning to work part-time and divorce. MoneyHelper has information and tools that allow people to understand what their retirement income may be.
MaPS are looking at introducing improved tools that help people model the impact of their working patterns on their pensions and life event guidance. The aim is to help people engage with the decisions they should be considering at different life moments.