Older women and money

Older women were also less likely to be in paid employment, take time out for caring responsibilities, and were not encouraged to save for their retirement. Women aged 50 have just half the pension savings of men.

Baroness Ros Altmann, former Pensions minister, talks about the injustices older women face, including why older women are more likely to be living in poverty than men:

Partner bereavement

Partner bereavement can have a significant effect on older women’s financial security. Women typically are poorer after the death of their (heterosexual) partner, while men are actually better off financially after their wife dies. Women’s household income decreases by £34 a week, whilst men’s increases by £12 per week. Catherine Seymour, Head of Policy at Independent Age, explores this further in her blog for our Ageism Plus series.