5 October 2021
In the wake of the pandemic, just 15% of female employees have been prompted to save more into their personal pension, and only 13% have increased their workplace pension contribution compared to 24% and 19% respectively for men, highlighting the disproportionate impact the pandemic has had on women in a monetary perspective.
According to newly released research from Close Brothers, 45% of female employees say they feel a greater level of financial anxiety than before the pandemic compared to 38% of their male counterparts.
A new report, ‘Expecting the unexpected: a spotlight on preparing for a crisis’, highlights the extent to which the past 12 months have changed the financial plans of employees across the UK. 59% of women either have already or plan to make changes to their financial preparedness, compared to 55% of men. 73% plan to or have already started keeping a closer eye on their day-to-day spending as a result of the pandemic – compared to 52% of men. 65% are saving more into an emergency fund (vs 57% of men).