Pensions: Gender

(asked on 5th July 2023) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, with reference his Department's document entitled The gender pensions gap in private Pensions statistical release on 5 June 2023, what steps his Department is taking to reduce the gender pensions gap (a) overall and (b) amongst individuals with Defined Contribution pension wealth only.


Answered by
Laura Trott Portrait
Laura Trott
Chief Secretary to the Treasury
This question was answered on 10th July 2023

The Government has taken significant steps to close the gender pensions gap overall and for individuals with Defined Contribution pension wealth only.

Under the new State Pension – average weekly amounts are expected to equalise for men and women reaching State Pension age in the near future – much earlier than they would have under the old system.

Automatic Enrolment brought millions of women into pension saving for the very first time with 86% of eligible women now being auto enrolled. Building on the 2017 AE review, legislation is currently progressing through Parliament. There measures will benefit over 3 million workers, around half of whom will be women.

More broadly hundreds of thousands more working parents will be supported through the extension of free childcare announced in the Spring budget, more than doubling the current support in place.

The publication of an official annual measure will help us track the collective efforts of government, industry and employers to close the Gender Pensions Gap.

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