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Report: Gender pay gap most pronounced among over-50s

Report: Gender pay gap most pronounced among over-50s

Females over the age of 50 suffer from a markedly more pronounced gender pay gap than their younger counterparts, a new study has shown.

Research carried by the Trades Union Congress (TUC) found that even though there has been a massive increase in the number of more experienced women in work over recent years, females in their 50s still receive significantly less than males in the same age bracket.

For instance, the organisation - which represents more than six million members across the UK - established that while women aged between 50 and 59 are typically paid £11.99 per hour, their male colleagues earn £14.69.

This represents a discrepancy of 18 per cent, which is significantly higher than the gender pay gap of ten per cent seen across the country's workforce as a whole.

Meanwhile, females in their 50s are also awarded less than women in their 30s and 40s, who take home respective hourly pay of £14.17 and £12.93 for their work.

In addition, as 50 per cent of all females in this age bracket are employed on a part-time basis, they also suffer more from the discrepancy in wages for such roles.

For instance, women in their 50s are typically paid £8.53 an hour for their part-time work - a figure that is around 33 per cent below the average full-time wage across the country - and earn less than £10,000 annually.

The report, which is the first in a TUC series entitled Age Immaterial, also proved that these issues with pay are in contrast to the trend that has seen older women experience the fastest level of growth in the UK employment market over the course of the last 20 years.

Frances O'Grady, general secretary of the TUC, observed: "While more women are working for longer, low pay remains a big problem, particularly for the millions who have been badly let down by the pension system and who are approaching retirement with little or no savings."

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Posted by Trusha Vyas