Women study longer and retire earlier

According to new study, women on average spend a one year more on education and retire two years earlier than men. A team of experts at the Organisation for Economic Co-operation and Development found that the women spent 18 years in education compared to 17 years by men. However, they found that the women are likely to be poorer than men at the time of retirement. They said that the women retired at the age of 62 on average. The study also showed that women earned 18 per cent less but worked unpaid for two hours extra per day. While, 19 per cent of are expected to be in poverty at the time of their retirement compared to 16 per cent of men. They found that women got married earlier at 30compared to an average of 32 for men. The finds of the study were released today to mark the International Women’s Day. Meanwhile, Institute for Fiscal Studies found that the number of women aged 60 in work increased by 27,000 and the number of men working at the age of 60 increased 8,300. Data suggests that the further increase in the state pension age would boost employment and state finances.