There is a “significant” gender divide in how people perceive the pensions industry, Trafalgar House has said, after its research showed that 43.1 per cent of men rated their trust in pensions at 6 or above, compared to 33.5 per cent of women.

The firm’s fifth Trust & Confidence Index found that 18.9 per cent of women say they agree or strongly agree that their pension will enable them to live comfortably in retirement compared to 34.1 per cent of men.

The survey highlighted a gender divide in the number of women who didn't have a pension provider, as more than a quarter (26.5 per cent) of women reported not having a pension provider, compared to 19.5 per cent of men.

It also showed that men are more likely to value digital tools like self-service websites and apps, while women place higher importance on clear communication and reliable information.

Trafalgar House client director, Daniel Taylor, said the research “clearly” shows men tend to be more trusting and optimistic generally about pensions, they are also more likely to report positive experiences and feel confident about their retirement prospects.

In contrast, Taylor noted that women are more likely to express doubt, distrust, or concern about their financial futures.

He said that perhaps the "most alarming” result of the research was the people who don’t have a pension provider at all – regardless of gender.

“The stats raise lots of important questions. Are women less trusting, or simply more realistic –especially considering the challenges they face across their working lives?” Taylor continued.

“Lower pay, career breaks for family, and financial vulnerability after divorce all contribute to long-term pension inequality.

“Whatever the reason, the message is clear: the pensions industry must do more to understand and address gender-specific concerns.”

Taylor emphasised that “communications must be clearer, support must be more inclusive, and services must meet the needs of all savers – not just some”.

Last month, the initial findings of the index found a decline in public trust in the pensions industry for the first time since the surveys began.

The average score dropped slightly to 5.23 out of 10, down from a peak of 5.26 in 2024, despite consistent growth in previous years (rising from 4.46 in 2020 to 4.95 in 2023).

Further results of the survey will be announced in the coming weeks.

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