Following the publication of today’s Personal Income Statistics by HM Revenue & Customs (HMRC), Royal London has urged women to “get ahead of the curve” when it comes to pension saving, with figures revealing that women hit their peak median income in the 35 to 39 age range.

Royal London pensions specialist Helen Morrissey highlighted that one of the “many reasons” women hit this point earlier than man is due to the rise in part time working among women after this point, as they take on additional caring responsibilities.

“By starting saving into a pension early we can ensure women take full advantage of the employer contributions, tax relief and investment performance which will help them build a sustainable base for their future retirement planning,” Morrissey added.

In comparison, the data published by the revenue revealed that men hit their median income peaked at the 45 to 49 age range, with the average income being £32,300. The income level recorded for women at their peak was £24,300.

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