By the time women turn 85, they will have nearly 40% less wealth than men
London — Young women with a well-paid job in the developed world will be almost 40% poorer than their male colleagues by the time they reach old age, as the pay gap limits women’s ability to invest over time, a study said on Monday. On average a 25-year-old woman living in a rich country earns 10% less than a man of the same age, according to research by Swiss bank UBS. By the time they turn 85, the gender pay gap will result in the woman having 38% less wealth than the man, the study said. The difference will widen if the woman takes a gap year or decides to work part-time for a period of her life, it added. "As women are expected to live longer, it is harder for them to maintain their lifestyle in retirement, having to stretch their wealth over a longer period," the study said. The research, targetting high-earning clients of the bank’s wealth management unit, was based on a model of an "illustrative Jane and Joe" entering the job market with an annual salary of at least $100,000 ...
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