Belfast Telegraph

Men 'receive £29,000 more in pension'

By Vicky Shaw

Men are still getting a better state pension deal than women, to the tune of nearly £29,000 over a typical 20-year retirement, research by Which? suggests.

The consumer group's analysis of Department for Work and Pensions (DWP) data found the average man receives £153.86 a week compared to £125.98 for the average woman.

The new state pension was launched in April 2016 to sweep away complexities in the old state pension system, and applies to people retiring since then.

The Pensions Advisory Service has indicated that some people may not have the required amount of National Insurance contributions or credits due to taking career breaks and/or taking care of dependants.

It has advised that those who find that their National Insurance history is not enough to provide a full state pension may be able to pay voluntary contributions in order to increase their entitlement.

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.