Pension Commission Revived to Address Gender Gap in Retirement Income
The TUC reports that retired women effectively lose over four months of pension income annually due to a gender gap, equating to an average annual loss of £7,600. Research shows the retirement income gap between men and women is 36.5%. The Government has revived the Pension Commission to address these disparities by involving unions, employers, and experts. TUC General Secretary Paul Nowak emphasizes the need for equitable retirement income for women, while the Government states the new state pension has reduced historic inequalities and the Commission will tackle barriers in private pensions.