The pensions gender gap has remained "stubbornly wide", according to research from Scottish Widows, which raised particular concerns around single mothers, after revealing that they are around £246,000 worse off in retirement compared to the average couple.

The latest Women and Retirement Report found that the gaps that exist for today’s retirees are "particularly stark", with the average man aged 65 to 74 holding over £250,000 of pension assets, compared to less than £150,000 for the average woman.

In addition to this, it found that an “alarming” 19 per cent of younger women in their 30s are saving nothing for retirement at all, compared to 12 per cent of men this age.

According to the report, the uneven effects of cost-of-living increases are also exacerbating structural inequalities and negatively impacting the retirements prospects of most UK women.

Indeed, the survey found that 16 per cent of women across the UK said they had to cut back on retirement saving to cope with rising prices, averaging a reduction of £1,824 per year.

This could in turn spur long-term inequalities, as analysis from Scottish Widows showed that if a 40-year-old single woman were to permanently reduce her pension contributions by £1,824, she could be £62,000 poorer in retirement.

The report also raised concerns that the UK’s 1.7 million single mothers are particularly vulnerable to these persistent inequalities, revealing that single mothers are already £246,000 worse off compared to the average couple, with pension savings averaging under £15,000 for lone parents.

When expanding this figure to total assets, single mothers held an average wealth of just £29,000, compared to over £275,000 for the average couple with dependent children in the UK

The research also showed that although women of all ages are less likely than men to be saving for retirement, this behaviour is particularly pronounced among single mothers, with 40 per cent stating that they are not a member of a pension, compared to 29 per cent of women in general.

Single mothers were also more anxious about their retirement income, with 72 per cent concerned about running out of money in retirement, compared to 61 per cent of all women and 52 per cent of men.

Commenting on the findings, Scottish Widows managing director, Jacki Leiper, stated: “Despite increased reporting, stubborn gender pay gaps persist for women across the UK. Our research shows that single mothers are much more likely to be exposed financially, cutting back in ways that jeopardise their wellbeing.

“Current economic conditions are making it harder than ever to fix the deep inequalities that underlie the pensions gap, with the retirement savings of women deeply impacted by key life events such as divorce or motherhood.

"Providers, regulators and employers must collaborate urgently to address this crisis– from reconsidering the auto-enrolment threshold to far greater investment in childcare support – to help the most vulnerable in the near term.”

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