Men still well ahead on pay

THE average 50-year-old man earns almost 60 per cent more a year than his female counterpart as the gender income gap refuses to narrow, according to a new study.

At £30,000 a year, the average 50-year-old male makes £11,000 more than the typical 50-year-old woman, a study by MetLife has revealed.

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Men are also far more likely to be in full-time work in their fifties, with 71 per cent earning a full salary, compared with just 44 per cent of women. The difference means many women still face relying heavily on their partner’s pension when they retire. Just 22 per cent said they were the main income earner in their household.

But both genders say they don’t earn enough to be financially secure, with the average 50-year- old suggesting they would need an annual income of £38,600 to feel more comfortable.