Boring Money warns of gender investment gap

Gender pay gap 'fundamentally misleading' and promotes 'victim mentality' – study claims

"Omitting the one region with a negative gender pay gap from its table tells us everything we need to know about the aims of this campaign - it is perpetuating a victim-hood narrative, deliberately leaving out information that should be cause for celebration".

A mere 12% of women hold a stocks and shares ISA, compared to nearly a fifth (19%) of men, according to research from Boring Money.

Mackay pointed out that over any ten year period since the stock market began, stocks have done better than cash nine times out of 10, meaning women have continued to miss out on these returns.

Speaking to the Radio Times about the issue in October, Montague said the disparity in pay was "professionally damaging".

Senior BBC women including Mishal Husain, Anita Anand and Rachel Burden have used "equal pay day" to pressure the corporation to close the gender pay gap.

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"There is an underlying pay gap that there should not be".

The group also said that although the gap is wider for women in their 50s, it is also growing among younger women from 1.1 per cent in 2011 to 5.5 per cent this year. Nearly a third (32%) of women who work part-time earn less than the £10,000 qualifying earnings threshold and are missing out on valuable employer contributions.

The report comes as leading women at the BBC have been complaining about their relative pay to male colleagues after the salaries over £150,000 a year were published.

Of those women that are saving into a workplace pension, nearly half are using auto-enrolment as their only form of saving for retirement, resulting in women expecting a mere £102,000 in their pension pot compared with £184,000 for men.

"The gender pay gap is poorly understood and as a effect not closing fast enough", Sophie Walker, leader of the Women's Equality Party, who is encouraging women to join the #OutofOffice campaign, said. This inequality carries through to later life, as women's retirement prospects are generally worse than men's.

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