STATEMENT: Local Government Pension Scheme Reforms Addressing Gender Pensions Gap

Responding to local government pension scheme reforms that aim to address the gender pensions gap, UKSIF CEO James Alexander said:

“We are pleased to see local government pension scheme reforms draw on UKSIF recommendations to address the gender pensions gap affecting women.

“Recent government figures show the private pension wealth gap between women and men for those approaching retirement is 48% on average, leading to a significant disparity in their quality of life.

“We have recommended that The Pensions Commission, which is examining the adequacy of retirement savings, consider women’s pension contribution levels as part of a shift to a more sustainable and resilient pensions system.

“Well-implemented reforms addressing the gender pensions gap across the sector have the potential to tackle this systemic issue, while also generating large pools of pension capital, which could increase investment into the wider economy.”