A survey of 6,000 adults conducted by financial advice site Boring Money found that women make £600bn ($670bn) less in investments than men.

The report said that pensions were a key driver of the gender investment gap at a time when anxiety around pensions has peaked. Women have an average private pension of £99,000 on average, £39,00 less than their male counterparts.

The gap is even wider in non-traditional investments. CNBC reported in 2021 that twice as many men as women invest in cryptocurrency.

But when women do invest, they see results, according to a Fidelity report. 67% of women now invest outside of retirement, up from 44% in 2018.

Economic inequality also persists between the sexes in the form of the gender pay gap. In April 2022 the gap was 8.3% according to ONS figures. However this has fallen from 15.5% in 2002.

“We know that women struggle with a hatred of jargon and lack of trust in financial institutions, but they are also dealing with big and often messy life challenges which are just not being recognized in the finance space.”

Holly Mackay, CEO, Boring Money

“We know that women struggle with a hatred of jargon and lack of trust in financial institutions, but they are also dealing with big and often messy life challenges which are just not being recognized in the finance space,” said Holly Mackay, CEO, Boring Money. “The industry is not tackling women’s WHY. It just rushes to focus on the HOW and to churn out more content about complex financial products.”