More women than ever face old age in poverty after a report this week revealed that they were sacrificing their pensions to accommodate the rising cost of childcare.
The Fawcett Society, which campaigns against gender inequality, found that women were significantly under-saving and worryingly, many were relying on their male counterparts to make up for the shortfall.
The charity said women were taking a significant hit to their pension when they had children, but many were unaware of the long-term financial consequences of taking on full responsibility for childcare costs.
The concern is fuelled by the fact that women also live longer and are still victims of income inequality as well as inequalities in the pensions system, which serves working men more than it does working women.
The report found that only 52 per cent of women aged over 30 and earning more than £10,000 were saving adequately for old age compared to 60 per cent of men.
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