By Daniel Hunter

The proportion of women planning for their retirement has reached an all-time low, with just two in five putting plans in place to see them through later life.

Just under half of men are also planning for retirement. The number of men and women who are preparing for retirement has fallen slightly since last year.

The survey, conducted by Scottish Widows, also found that more than one in three women don’t have any pension provision in place, while more than one in four men are in the same situation.

Of those women that are saving, the amount they are managing to put aside £182 a month on average, while men are able to save £260 on average.

“The number of women preparing adequately for retirement has dropped from last year to a record low. This growing gender gap in retirement savings means that women are facing an ever increasing shortfall when it comes to retiring and must act now to ensure they will not be left exposed in later life,” said Lynn Graves, from Scottish Widows.

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