A disabled person is expected to receive two-thirds less pension income in comparison to a person without a disability by the time they retire, Scottish Widows’ research has revealed.

According to the annual Scottish Widows Master Trust Membership Survey Insight Report, the average disabled person is on track to receive a total income of £11,000 per year, which is less than two thirds of the £19,000 average predicted for people without disabilities.

The report also found that, among the 14 per cent of the survey respondents who identify as having a disability, 31 per cent of people said that their disability affects the way they manage their finances.

This correlates with the findings of Scottish Widows' Retirement Report earlier this year, which found that 51 per cent of disabled people aren’t saving enough to afford an adequate lifestyle in retirement, as per the minimum advised by the Pensions & Lifetime Savings Association’s Retirement Living Standards.

Commenting on the Master Trust Membership Survey Insight Report, Scottish Widows master trust lead, Sharon Bellingham, said: “Disabled people struggle to make financial plans as a result of unfair workplace practices and additional costs which limit their ability to save for the future.

"While pensions are at the heart of most people’s retirement plans and millions are saving into an employer provided pension scheme, a considerable proportion of society will struggle to achieve an adequate retirement lifestyle.

"It’s important that we understand the diverse needs of members with disabilities and vulnerabilities to make retirement savings inclusive for everyone.”

There is a clear need for “specific and targeted assistance for the disabled community to support them with their later life plans”, she added.

Bellingham suggested collaboration within the industry, broader policy intervention and workplace changes to help close the gap between disabled and non-disabled peoples’ retirement incomes, as “without these, the significant disparities that we see now will remain and progressively get worse”.

Scottish Widows’ findings coincide with UK Disability Month, which takes place from 16 November-16 December to raise greater awareness of the issues faced by disabled people.

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