Why babyboomer grandparents are to blame for the gender pension gap 

The gap between women and men’s retirement savings stems from discrimination as far back as childhood, new research suggests.

Parents and grandparents are much more likely to save into a pension for boys than for girls, and the gap has worsened in recent years, according to HM Revenue & Customs.

By the time women reach 50, they have on average only half the pension savings, £56,000 compared to £112,000 saved by men, acccording to research by Aegon.

In 2016-17, 13,000 girls aged 15 or under had money paid into a pension on their behalf compared to 20,000 boys, according to the statistics from a Freedom of Information request submitted by Hargreaves Lansdown. 

Parents, grandparents, relatives, and even family friends, can pay into a pension on behalf of a child. The maximum amount that can be contributed to a child’s pension is £2,880 per year, tax relief added at 20pc means the government tops it up to a maximum of £3,600 per year. 

The number of children subscribing to pensions in 2016-17 had increased by five and a half times to 33,000 in only four years.

The data shows that the gender pensions gap for children is gradually increasing.

In 2012-13, 50pc of children aged 15 or under who had a pension fund (around 6,000) were boys, but this increased to  54pc (of  11,000) in 2013-14, 56pc in 2014-15, 58pc the following year, and then 60pc in 2016-17.