Women save less for retirement

Women save less for retirement and they are more likely to default on a loan taken from their retirement savings.

By Paula Aven Gladych | Updated on August 14, 2013

Women save less for retirement and are more likely to default on a loan taken from their retirement savings.

A report by Aon Hewitt found that women save on average 6.9 percent of their pay for retirement, compared to 7.6 percent for men. Nearly one-third of women contribute below the company match threshold, compared to one-quarter of men. As a result, women have average plan balances significantly less than men, regardless of salary.

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