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Women have less financial resilience to bounce back from financial shocks and are more likely to be trapped in poverty in later life, according to a new report by Insuring Women's Futures (IWF). IWF is a programme established by the Chartered Insurance Institute (CII) to support the insurance profession's role in relation to women and risk.

The report

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Key statistics

Some key findings from the report include:

  • Longer life expectancy means the average cost for women entering a care home from 65-74 is £132,000, nearly double the cost of men's

  • The average man accumulates five times the pension pot of the average woman

  • Women now earn the same as men in their 20s but men overtake them at age 30

  • Separation and divorce present key risks for women

  • Average pension pots for divorced women worth approximately £9,019 compared with £30,341 for divorced men
     

Infographic

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