Prudential has revealed new research that shows more than a third of women (35 per cent) planning to retire in 2010 will receive an income which is below the poverty line* – £14,000 a year or less – according to the latest findings** from Prudential’s Class of 2010 retirement survey.

By comparison 29 per cent of men will face their retirement on an income of less than £14,000 a year.

The gender gap becomes even starker over the age of 65 where 42 per cent of women over 65 will have incomes below the poverty line compared with 33 per cent of men. According to the Joseph Rowntree Foundation, a single person in Britain needs to earn at least £13,900 a year before tax** in order to afford a basic, but acceptable standard of living.

Overall nearly a third (32 per cent) of people planning to retire in 2010 will have an income that falls below the poverty line.

Via EPR Network
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