Many couples lack shared finances, and fewer still know their partner’s true pension savings. While most hold fragmented pensions, the higher earner usually keeps the lion’s share. As a result, the individual with the smallest pot is almost always a woman. The resulting gender pensions gap means that by age 55, the average man holds savings nearly twice as large as the average woman’s.

Relying on one pension is risky. Funding the lower earner remains essential, yet tax relief structures discourage it. Higher earners maximize top-rate benefits on themselves, while lower earners capture only basic-rate relief. Non-earners face steeper hurdles, restricted to just £2,880 yearly—a threshold frozen since 2001 despite inflation.

Sir [PERSON_NAME], former pensions minister at LCP, proposes making higher-rate tax relief transferable between partners. This would narrow the gap, ensuring women retain independent retirement funds. With divorced seniors trebling and cohabiting households reaching 5.4mn, legal safeguards remain inadequate. Reforming pension rules now protects unions and separations alike.