Fears raised over women’s finances

Figures from Prudential show that around 60 per cent of all work-age female British citizens do not contribute to either a company or personal pension, compared to 46 per cent of their male counterparts.

And with debt management problems facing millions of consumers nationwide, the financial service firm suggests that British women are part of a “pensions underclass”.

“Retirement is now roughly 25 years long for the average person, so people need to not only review what their pension will deliver, but also think about all the other sources of wealth available to them, such as property and other savings,” said Gary Shaughnessy Prudential’s managing director of retail life and pensions.

Earlier this year, the Consumer Credit Counselling Service warned that the burden of debt management is increasingly shifting to older generations across Britain.