Our latest report with the Pensions Policy Institute identifies the most ‘under-pensioned’ groups in the UK. These groups are reaching retirement age with a pension wealth approximately 15% of the UK average.
*This is £0 because the majority of people in these groups do not contribute to any pension saving, so when
we divide the total pension wealth for this group with the number of individuals it averages out at £0.
see full report
81% of carers are locked out of automatic enrolment, leaving them with private pension wealth 37% of the UK average
Divorced women often face lower retirement incomes, primarily because pension assets are not usually considered during the separation process.
Single mothers have the highest rate of employment yet tend to earn the least, leaving them with private pension wealth just one-third of the average woman. Working part-time to accommodate their caring responsibilities has the biggest impact on women’s ability to save for their retirement.
Disabled people are at greater risk of experiencing pay inequalities and therefore lower retirement incomes.
The total private pension wealth for people with multiple jobs represents just 6.1% of the average man’s pension.
Auto-enrolment has increased participation rates among some ethnic minority groups, but only 42% of BAME individuals are contributing to a private pension
Self-employment is up but pension savings are down
The Cardano Group is fully committed to creating a workplace where everyone can advance and thrive. We have been pioneers in raising the issue of the Gender Pensions Gap and will continue to raise awareness and lobby for effective ways to address all pension inequality in the UK.
We are hugely proud to be working with partner organisations and projects to support employment opportunities for everyone in society.
