Mon 16 May 2022 - We鈥檝e all heard about the gender pay gap. Sadly, the gap doesn鈥檛 just exist with base pay.
across the four million members in our Defined Contribution (DC) pensions, found that there鈥檚 a gender pension gap too, continuing the divide between men and women.
The gender pension gap is the percentage difference in income between men鈥檚 and women鈥檚 pensions. It begins at the very start of a woman鈥檚 career and at every age bracket women are shown to have smaller pension pots. By the time they reach retirement, the average size of a man鈥檚 pension pot is twice that of a woman.
However, it is not only the difference in wages that has an impact. There are many more reasons for the gap 鈥� women are traditionally more likely to take career breaks or work part-time to care for children or family members. 900,000 women a year retire early due to menopause so when their earning potential is at its highest, they鈥檙e leaving employment. Given women on average live longer than men, the fact that on average they are retiring with half the pension pot of men is an even greater issue.
This webinar will highlight the latest research on this issue, before turning to what steps can be taken and are being championed by the L&G Pension Equalities Taskforce to address the current gap - by individuals and by employers, the wider pensions industry and in changes to the policies set by Government.
Alexandra Miles is Senior Solutions Manager at Legal & General (L&G) and Woman of the Year (Retirement) at the 2025 WIFA Awards. With 18+ years across pensions, asset management and consultancy, she leads initiatives to advance pension adequacy and equity in the UK鈥檚 DC system. After moving from DB to DC, Alexandra supports the default investment strategies for L&G鈥檚 DC customers and champions collaborative, commercially minded innovation. She co chairs an industry wide Data & Research Pension Equity group, and founded and now chairs the Institute of Actuaries鈥� Pensions Gap and Ageing Populations working parties. Recently, she spoke on pension adequacy at a Labour Party Conference fringe (SMF), alongside Torsten Bell. Alexandra co authored 鈥淩etirement Reimagined鈥� with James Smith, proposing practical, flexible reforms for modern retirement.
Gareth is Chief Executive Officer of L&G鈥檚 Institutional Retirement business, which insures pension schemes and pensioners across the UK, US and Canada.
L&G is a UK FTSE 100 insurance and asset management company, with a market capitalisation of 拢13bn and operating profits of 拢1.7bn. L&G Institutional Retirement is the UK鈥檚 largest and longest-established PRT provider.
Prior to his current role, Gareth held senior positions at L&G, including Chief Financial Officer of L&G Capital, Chief Investment Officer (CIO) of Private Markets within Asset Management and CIO of Institutional Retirement, overseeing a portfolio of 拢94bn. He has also served as a Board Director for several portfolio companies, including Retirement Villages, Modular 缅北禁地s and US Real Estate Development.
Before joining L&G, Gareth spent nearly 20 years at EY, where he was a partner leading Global Investment Advisory, UK actuarial and sustainable finance consulting practices. He is an active volunteer within the Actuarial Profession, having chaired the Finance & Investment Board, served on the Life Board and led working parties on private market investments and procyclicality.
Gareth holds a first-class honours degree in mathematics from University College London and is a Fellow of the 缅北禁地.