Men over 16 have a median occupational defined contribution (DC) pension pot of £10,000, whereas women in the same age group have £5,000, suggesting a "significant" gap in pension savings between genders, research from Broadstone has revealed.

The research revealed that across all age groups, 23 per cent of men over 16 are actively contributing to their occupational DC pension, compared to 19 per cent of women, leading to fears of inadequate incomes in retirement.

Broadstone said the trend of a “notably” smaller proportion of women contributing to their occupational DC pension is particularly clear in the middle of their career, as only 25 per cent of women aged 35-44 contribute to their workplace DC pension compared to 33 per cent of men.

In this age cohort, men had a median occupational DC pot size of £12,000, almost double that of women (£6,700).

The research also found that for those aged between 45 and 54, 25 per cent of women contribute to their occupational DC pensions compared to 32 per cent of men, leaving them with a median pension wealth of £7,400, less than half of men’s (£15,000).

The proportion of men (21 per cent) and women (18 per cent) contributing to their DC pot by age 55 to 65 is similar to the previous cohort.

However, the gap in median pot size widens significantly by the time they reach the end of their careers, with men having nearly three times the median pot (£24,000) as women in this age group (£6,800).

Broadstone suggested that a key driver of this disparity is career breaks for childcare and highlighted research from the Pensions Policy Institute (PPI) that showed differing working patterns were the biggest factor behind the gender pension gap.

The research also found that women are more likely to take time off or work part-time where hourly pay is often lower, reducing their pension contributions and damaging career progression to higher-paid roles later in their careers.

The PPI estimated these career patterns alone cut women’s pension wealth by 47 per cent, with the biggest impact occurring in their 30s, due to pausing work due to care for children or family.

Broadstone workplace engagement consultant, Rachel Coles, said the analysis highlighted a “stark” gender difference in participation in active occupational DC pensions between men and women, driving a widening gap in total savings.

She added that it also reflected a “well-documented” trend of women, on average, entering retirement with less wealth and that factors such as childbirth and menopause are “forcing” many women out of the labour market or into part-time work and inhibiting future career progression.

“Employers can play an important role by offering greater flexibility around pension contributions during career breaks, for example, while policymakers should explore solutions such as enhanced parental leave policies and better support for returners to the workforce,” she continued.

“It’s also vital that women have access to tailored financial advice and planning tools to navigate career gaps and understand the importance of early saving in improving retirement outcomes.

“Employers can support this by offering financial education that helps female employees plan for any career breaks and take proactive steps to close any savings gaps.”

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