At the current rate of progression, it will take another 20 years to close the gender pensions gap.

This is what Scottish Widows independent financial adviser workplace senior manager Susan Hope told Money Marketing while discussing its latest women & retirement report 2024.

However, the report does outline that the gender pensions gap will close in 20 years, only if the government implements further policies encouraging further women to save into a pension.

These policies include:

• Getting more women saving into a pension and qualifying for the full State Pension;
• Increasing the confidence women have to invest and manage their finance;
• A shift in approach to joint financial planning so that women do not lose out when annuities are purchased or in the event of divorce.

The report did highlight that “good progress in reducing the gender pensions gap over the last 20 years” has been made.

The gender pensions gap has reduced from 52% to 33% since 2008 for those aged 50-64, but women currently nearing retirement are still likely to have pension pots which are a third smaller than men.

Scottish Widows also predicts that at the current rate, two million women in the UK feel like they will never be able to retire.

In order to make further positive changes, Hope believes collaboration is needed between regulation, the industry and employers.

Hope said this issue does not only impact women, “it affects everyone as everyone has women in their life”.

In regards to auto-enrolment, Hope said it has been “great” but 43% of women do not feel confident enough to manage their own pension.

Additionally, issues remain that predominantly impact women. If a single mother works two jobs part time and earns under £10,000 per job she will not be eligible for auto-enrolment and miss out on a pension.

“So working mums can be hit.”

Scottish Widows head of pensions policy Pete Glancy said: “Within the pensions system, reforms to auto-enrolment could allow those working part-time, or juggling multiple jobs to benefit from pension contributions, including contributions from their employer where they themselves are unable to save at that point in time.”

The report also looks at women’s attitude towards investment for the first time in the reports 20-year history. It showed only 38% of women invest outside of pensions, compared to 55% of men.

This gap is exacerbated for young women as 34% of women aged 18-24 invest, compared to 64% of men aged 18-24.

Women are less likely to feel that investing is for people like them, and they are less likely to feel sufficiently supported to learn more about investing.

Still, more women aged 18-24 would consider investing if they had the right advice and resources. The most common cited barrier to investing was understanding potential risks and rewards better (36%) and access to official financial advice (31%).

Hope does feel the gap is “within our reach to close it” but we need to take a “holistic” approach towards pensions.

Hope added: “The pensions gender pay gap belongs in the past, let us be the generation that makes it history.”

Glancy added that the government has announced a Pensions Review, where Scottish Widows believes Phase 2 of that review will have the gender pensions gap “within its scope”.

“This is the opportunity for all stakeholders who genuinely believe in gender pensions equality to contribute to that review, making the case for the reforms that will make a difference.”

My Pension Expert policy director Lily Megson said: “Yet again, we’re faced with damning evidence that British women are drawing the short straw when it comes to their pension planning.

“Targeted support from the government is therefore a must. Taking action through policy that boosts financial education, encourages active pension engagement, widens access to auto-enrolment and closes the gender pay gap is a vital step in empowering women to achieve the retirement they deserve.”

In order to obtain these results, Scottish Widows commissioned YouGov to survey 5,102 adults aged 18+.

YouGov also conducted a second survey to better understand investment behaviours and shifts in attitudes, with 3,650 adults aged 18+.

CHECK out this play list!

The most-wanted Christmas toys have been revealed – with experts predicting a record £1BILLION splurge.

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The DreamToys top 20 rundown of all-star buys, compiled by the Toy Retailers Association,  features a wall-climbing gecko, Bluey’s plane and an F1 race car.

The expected mega-spend is being put down to the rise of so-called “kidults” – adults who collect and play with toys.

The list, which predicts best-sellers, also has something for every budget.

Prices start at £9.99 and more than half of the items can be found for less than £50.

Here Thomas Godfrey checks out where the fun is at . . . 

HOT WHEELS ULTRA SLAM CAR WASH PLAYSET, MATTEL UK, £59.99 (above)

The latest toy in the ever-popular Hot Wheels City series includes cars that can change colour in warm water.

BEYBLADE X XTREME BATTLE SET, HASBRO, £44.99

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This battle set comes with blades that can snap into three pieces, making for a dramatic twist on this classic game.

DESPICABLE ME 4: THE ULTIMATE FART BLASTER, MOOSE TOYS, £29.99

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A sure-fire laugh, this vapour-blasting wonder puts out fart and banana-scented vapours in the style of Gru’s Minions.

UNO SHOW ’EM NO MERCY, MATTEL UK, £12.99

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As if games of Uno were not intense enough, here punishments and rewards are more severe with a dreaded +10 card included for the first time.

UNICORN ACADEMY INTERACTIVE RAINBOW LIGHT-UP WILDSTAR, SPIN MASTER, £35.99

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Inspired by the hit series, this comes alive when shown love and belts out songs from the Netflix show.

BLUEY 3-IN-1 TRANSFORMING PLANE PLAYSET, MOOSE TOYS, £59.99

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The aircraft from the kids’ TV favourite transforms into a resort and a boat – and comes with some of the show’s top characters.

DISNEY STITCH, LEGO, £59.99

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Currently the world’s best-selling toy, it is perfect for playtime.

Sensors on its mouth and hands make for hours of interactive fun

HEX BOTS WALL CRAWLER GECKO, HEXBUG, £29.99

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This innovative toy uses vacuum technology to cling to walls and climb, as well as scuttling around on the floor.

ICONS TINY PLANTS, LEGO, £44.99

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Lego’s plant range is easy to build and compatible with other sets – adding some shrubbery to the legendary range’s bestsellers.

LITTLEST PET SHOP – PET SHOP PLAYSET, BANDAI UK, £39.99

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This collectable set, loved by both kids and adults, features all kinds of animals – and now comes with bobbing heads.

SPEED CHAMPIONS McLAREN F1 RACE CAR, LEGO, £20.99

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Petrolhead or not, it’s easy to get hooked on this set – which comes with all the stylings of Brit racer Lando Norris’ McLaren Formula 1 car.

MINIVERSE MAKE IT MINI POTIONS CLASS, MGA, £49.99

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This Harry Potter set takes four hours to build and comes with more than 100 parts – making it the perfect arts and crafts gift.

KINETIC SAND SQUISH MOTION, SPIN MASTER, £19.99

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With a fun range of shapes and colours, and a new foam stamp pad, this sensory toy is perfect for relaxation.

PETS ALIVE: MAMA DUCK & BABY SURPRISE, ZURU, £29.99

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Clip ducklings on to the back of Mama Duck and they will follow her around.

Includes hatchable eggs and sometimes a rare golden egg.

PAW PATROL RUBBLE’S BARK YARD DELUXE BULLDOZER, SPIN MASTER, £44.99

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TV fave Rubble slots in the driver’s seat on this bulldozer as kids knock down or build up structures.

FURREAL PEANUT THE PLAYFUL MONKEY, JUST PLAY PRODUCTS, £89.99

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Press his hands and watch him spin.

This dancing primate ooh-oohs and aah-aahs every time you touch one of its many sensors.

REAL FX DISNEY STITCH PUPPETRONIC, WOW! STUFF, £69.99

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The film inspiring this, Lilo & Stitch, is not out yet – but the toy is a hit.

Kids can move its eyes, ears, mouth and nose, and he’ll talk back.

STICKI ROLLS STICKI BOOK PACK, CHARACTER OPTIONS, £9.99

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These friendship bracelets come with rolls of wholesome stickers that friends can share or collect in a booklet.

LITTLE LIVE PETS MY WALKING PENGUIN – WADDLES, MOOSE TOYS, £24.99

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Furry penguin, as name suggests, will waddle around the room.

It comes with a lead and likes to be taken on walks.

HATCHIMALS ALIVE MYSTERY HATCH PUFFICORN EGG, SPIN MASTER, £64.99

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Show a lot of love to this egg and it will smoke, crack and . . . reveal an adorable cuddly toy underneath.

A MAJOR energy firm is introducing a new fee for some of its customers in just a few weeks’ time.

Ovo Energy, which has over four million customers, will begin charging a new £1.50 monthly fee for customers who receive paper bills from December.

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Over the course of a year, customers will pay an extra £18 to keep receiving paper bills in future.

Ovo has said it will be writing to its current paper billing customers to let them know about the changes ahead of the December roll-out.

The letter will contain a QR code which will take customers to a form where they can opt to receive paperless bills going forward, meaning they won’t incur any extra charges.

However, some vulnerable customers will still be able to receive paper bills with no charge and won’t be asked to go paperless. These include:

• Customers on the Priority Services Register
• Customers who receive Adaptive Communications
• Customers who Ovo believes should be on the Priority Services Register
• Customers who may potentially be financially vulnerable.

It is understood that customers will be able to receive a PDF of their energy statement to save and use in situations where they’re required to provide proof of address.

The energy firm said the change will “help us to be more efficient and support our commitment to sustainability“.

But members of parliament have expressed concerns about the change and have called on Ovo to reverse it.

A motion tabled in parliament on November 6 said they “believe that such a fee is counterproductive as families continue to struggle with high energy costs, particularly in the run-up to winter, and further notes that such a change risks disadvantaging older and other vulnerable people”.

The motion had been signed by 14 MPs at the time of publishing.

A spokesperson for OVO told The Sun: “Like most energy providers, we already send digital communications to most customers.

“We still offer paper communications to anyone on the Priority Services Register, those who receive adapted communications, and anyone needing additional financial support.”

It is understood the majority of Ovo’s customers have now opted into paperless communications, but the firm did not confirm how many still receive paper statements when asked.

Customers can avoid the new fee by paying your Ovo energy bill over the phone by contacting the firm on 0330 303 5063, or by setting up paperless bills and paying by direct debit or via their online account.

Do other energy firms charge any fees?

The Sun asked other major energy providers British Gas, Octopus Energy, EDF, Scottish Power if they charge for paper bills and all confirmed they don’t currently charge fees.

It’s understood that E.On Next charges a £1 fee if you request a paper bill.

Some other utilities companies charge fees for paper communications, too.

For example, most major telecoms firms charge a small fee to receive paper bills.

BT charges £3 for broadband customers who get a paper bill, which it says is to cover printing and postage costs, while TalkTalk charges £2.75 a month.

Some banks also charge a small fee for certain customers. For example, Lloyds Bank and Halifax charge credit card customers for paper statements, but not current account or savings customers.

Santander still offers free one-off monthly paper bills on request, but will charge for weekly paper statements.

To avoid paying fees for receiving paper bills, you can ask to start receiving paperless bills. Ask your provider to help set you up with paperless statements if you’re not sure.

MILLIONS of savers face lower returns as major banks prepare to slash their savings rates. 

The move follows the Bank of England’s (BoE) decision to cut the base rate from 5% to 4.75% last week.

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The base rate influences the interest rates banks offer to customers on a range of products like mortgages, credit cards and savings

While mortgage holders are celebrating lower rates as it reduces borrowing costs, savers are left with the short end of the stick.

As borrowing costs drop, banks including Barclays, NatWest and Santander have started to lower interest rates on some savings accounts.

Whether you’re affected or not will depend on the bank you’re with and the type of savings account you have.

For instance, with some types of accounts, the interest rate you get on your savings is locked in for a set period of time.

With others – often easy access accounts – the rate can change anytime.

Average savings rates have been steadily declining over the past 12 months.

Currently, average easy-access rates stand at 3.03%, down from 3.19% in 2023, according to MoneyFactsCompare.co.uk.

Similarly, the average one-year fixed bond rate has decreased from 4.31% to 4.22% since November 2023.

That’s why ensuring you’re getting the best rate on your savings is crucial, especially when the Bank of England cuts the base rate.

To help you stay informed, we’ve compiled a list of major banks and building societies currently reducing their savings rates, along with tips on comparing rates at any time.

It’s also worth noting that several challenger banks are still outshining well-known high-street brands, offering up to 8% returns.

However, these deals won’t last forever.

So, if your money is sitting in one of the accounts listed below, it might be time to consider switching to secure a better deal.

BARCLAYS

Barclays told The Sun that it will be reducing rates across some of its savings products in the New Year.

However, a spokesperson added: “We will not make any changes to our children’s accounts or Help To Buy ISAs, to support younger savers and first-time buyers.”

Effective January 6, 2025, Barclays will lower the savings rates on its easy access Rewards Saver and Blue Rewards Saver accounts.

The Rewards Saver rates will be reduced from 2.75% to 2.51% when no withdrawal is made in the calendar month and from 0.85% to 0.76%, when a withdrawal is made in the calendar month.

The Blue Rewards Saver rates will be reduced from 3.40% to 3.17% when no withdrawal is made in the calendar month, and from 1.01% to 0.76% when a withdrawal is made in the calendar month.

From February 13, 2025, Barclays will also lower the savings rates on its easy access Everyday Saver and Rainy Day Saver accounts.

Everyday Saver rates will be cut from 1.51% to 1.26% for balances up to £10,000 but increase from 1.16% to 1.26% for balances over £10,000.

Rainy Day Saver rates will be cut from 5.12% to 4.87% for balances up to £5,000 but will remain unchanged at 1.16% for balances over £5,000.

Ahead of these changes, the bank will also be withdrawing and repricing its fixed bonds available to new customers on November 13.

A fixed rate savings account or fixed rate bond offers some of the highest interest rates but comes at the cost of being unable to withdraw your cash within the agreed term.

As part of this adjustment, the rate on the Barclays 1-Year Fixed-Rate Bond will be reduced from 4.05% to 3.90%.

Additionally, the rate on the Flexible 18-Month Bond will be decreased from 3.75% to 3.60%.

CHASE

Chase is cutting the rate offered on its instant access Chase Saver from Thursday, November 14.

This account allows for unlimited withdrawals for free.

However, since May 13, 2024, the account’s savings rate has been tied to the Bank of England base rate.

This means that five business days after the Bank of England base rate changes, the saver’s annual percentage rate will also change to 1.15% below theirs.

In a message sent to all customers, it said: “On November 7, 2024, the Bank of England’s base rate was reduced by 0.25%, meaning the new rate is 4.75%.

“As the Chase Saver rate is tied to the Bank Of England base rate, we’ll be updating it.

“The standard saver rate will change from 3.75% variable to 3.50% variable on November 14, 2024.”

HSBC

HSBC will also cut rates across some of its easy access savings accounts on November 18.

The rate charged on its instant access Flexible Saver will fall from 1.98%.

Customers with an HSBC Premier bank account, which includes a linked Premier Saver offering preferential rates, will experience a reduction in their savings rate from 2.23% to 1.98%.

The standard monthly rates on the bank’s Online Bonus saver will also fall from 1.98% to 1.74%.

MONZO

Monzo has announced that it will lower the interest rate on its Personal Instant Access Savings Pots from 3.85% to 3.60%.

This change will take effect on November 26, 2024.

These easy access accounts are designed to give you the flexibility to grow your savings while still being able to access your money when you need it.

There’s no minimum deposit, and the maximum you can have in a pot is £500,000.

NATWEST

NatWest will make a number of cuts to its savings rates later this month.

On December 5, the rate offered on its Digital Regular Saver will fall from 1.60% to 1.50% for balances above £5,000.

These accounts require that you pay a set amount each month to get the interest rate advertised.

The rate offered on its easy access Flexible Saver will fall from 1.60% to 1.50% on balances up to £25,000.

Those with a regular Savings Builder account who pay less than £50 a month will also see their rates cut from 2.50% to 2.25% for savings up to £10,000.

SANTANDER

All Santander savings products linked to the Bank of England base rate will decrease by 0.25% on 3 December 2024.

This change will affect the easy access Rate for Life and Good for Life savings accounts.

As a result, the interest rate on the Good for Life ISA will be reduced from 5% to 4.75%.

Similarly, the Rate for Life account will see its rate drop from 5.25% to 5%.

OTHER CHANGES

Several other major high street banks and building societies have told The Sun that they are evaluating potential rate cuts on their savings account products.

Atom Bank has announced that it is reviewing its variable rate savings accounts, with the possibility that some fixed rate savers may also see reductions.

Nationwide stated that it is currently assessing the implications of the latest Bank rate change for its savers.

Meanwhile, Lloyds Bank, Halifax, and TSB have indicated that while their savings rates remain unchanged at present, they are under ongoing review.

WETHERSPOONS has switched up its menu just in time for the festive season including a never-before-seen burger, pizza and dessert.

The new menu launches in all of Wetherspoons’ 900 pubs tomorrow, and there are at least ten Christmas items to try while you enjoy a pint.

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Wetherspoons often makes changes to its menu throughout the year, including around the festive period.

Last winter, its Christmas menu included a bacon and garlic mushroom pizza, a brie and cranberry panini and a salted caramel sticky toffee pudding.

This year the popular pub chain is bringing back some fan favourites as well as adding several brand new items.

What items are hitting the new menu?

For this year’s festive period, customers can order a new pizza version of the popular “big cheese burger” released last year, which is covered in four different cheeses.

Meanwhile, the plant-based “five gold rings” burger is perfect for any vegetarians or vegans in your family or friend group.

For those looking for a lunchtime pick-me-up, there’s a brand new southern-fried chicken and stuffing wrap.

And for those with a sweet tooth, the all-new cookies and cream blondie will be available soon.

We’ve included the full list of prices below – but be aware that prices are different at every Wetherspoons, so yours might be cheaper or more expensive than the one we visited.

What is on the Wetherspoons Christmas menu?

Here are the new festive menu items:

• Sliced turkey breast and winter vegetables – £13.99 with a soft drink or £15.61 with an alcoholic drink
• The big cheese burger – £11.89 with a soft drink or £13.51 with an alcoholic drink
• Brie & bacon burger – £11.89 with a soft drink or £13.51 with an alcoholic drink
• Chicken & stuffing burger – £11.89 with a soft drink or £13.51 with an alcoholic drink
• The five gold rings burger – £11.89 with a soft drink or £13.51 with an alcoholic drink
• 11″ chicken, stuffing, bacon & Brie pizza – £12.31 with a soft drink or £13.93 with an alcoholic drink
• 11″ big cheese pizza – £11.23 with a soft drink or £12.85 with an alcoholic drink
• Any 3 small plates – £18.09
• Pigs in Blankets – £6.13
• The big cheese chips – £6.66
• 8″ chicken, stuffing, bacon & Brie pizza – £7.73
• 8″ big cheese pizza – £7.18
• Chicken, stuffing, bacon & cranberry panini – £7.45 with a soft drink or £9.07 with an alcoholic drink
• Brie & cranberry panini – £7.45 with a soft drink or £9.07 with an alcoholic drink
• 12″ southern-fried chicken & stuffing wrap – £7.45 with a soft drink or £9.07 with an alcoholic drink
• 10″ southern-fried chicken & stuffing wrap – £5.86 with a soft drink or £7.48 with an alcoholic drink
• Cookies & cream blondie – £6.26
• Chocolate-Orange Espresso Martini – £6.99 each or two for £13.50

Prices may vary depending on location.

Meanwhile, several fan favourite items are returning this year.

The popular brie and bacon burger, chicken and stuffing burger and big cheese burger are back on the menu.

Also making a comeback is the chicken, stuffing, bacon and brie pizza; the chicken, stuffing, bacon and cranberry panini and the brie and cranberry panini.

I got an exclusive invite to try the four new menu items and the rest of the Christmas menu before anyone else, ahead of its release tomorrow.

Big Cheese Pizza

First up, I tried the new 11 inch “big cheese pizza” is loaded up with mozzarella, Brie, Cheddar and a blue cheese sauce.

It’s a generous portion, and I was impressed by the thickness of the Brie slices and the rich blue cheese dressing.

Fans of a three cheese pizza will absolutely love this addition, but I found it a little overpowering.

Overall, I’d score it a 3.5 out of 5.

Five Gold Rings Burger

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I was excited to try the five gold rings burger, which is the first plant-based festive meal.

The onion rings were crunchy when I bit into them, and had a lovely flavour.

But I found there was too much BBQ sauce in the burger, which overpowered the delicate flavour of the onion rings.

Without the BBQ sauce I would score it a 4 out of 5 but with it I would give the meal just 3.5.

Southern-fried chicken and stuffing wrap

In comparison, the southern-fried chicken and stuffing wrap was right up my street.

The fried chicken was crunchy and paired perfectly with the iceberg lettuce and apricot and cranberry stuffing.

All of the flavours were well balanced without being overpowering.

I thought the portion was just right and would make a perfect light lunch.

I’d give it a 4.5 out of 5.

Cookies and Cream Blondie

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Last up was the star of the show. 

Although I was already stuffed from all the other food I tried, I still managed to find space for the cookies and cream blondie.

The warm white chocolate brownie was topped with cookie pieces and served with vanilla ice cream and a chocolate cookie crumb.

The blondie melted in the mouth and was delicious when paired with the soft ice cream.

I’d score this delicious treat a five out of five.

How often does Wetherspoons change its menu?

Wetherspoons makes changes to its menus several times a year in order to refresh its menu and compete with its rivals.

Last month it cut down the price of its ales, spirits and largers, which means customers can pick up  a pint of Ruddles Best for just £1.79.

Meanwhile, in May it axed 18 drinks from its menus in a major shakeup.

A number of spirits were dropped from menus in May, including Lambs Navy Rum, Bombay Bramble and Gordon’s Sicilian Lemon.

Duppy Share White, Chase pink grapefruit pomelo gin and Buffalo Trace were also cut.

In April the popular pub chain added several items to its menu including a ramen noodle bowl, shawarma chicken wrap and three new breakfast items.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

BUDGET retailer Aldi has brought back it’s wildly popular Le Creuset dupe kitchenware range – at a huge discount compared to the original.

The cast iron cookware dishes cost between £1.99 and £24.99 – whereas the iconic Le Creuset casserole dishes go for £209.

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Aldi will stock a Cast Iron Shallow Casserole Dish and the Cast Iron Dutch Oven – both selling for £24.99.

The beloved budget shop will also sell a Cast Iron Skillet for only £12.99.

Le Creuset’s iconic casserole dishes start at £209 and can cost up to £559 depending on size.

Their skillet, part of the French company’s signature collection, goes for £159 while the shallow casserole dish – slightly different to Aldi’s offerings – starts at £149.

Shoppers can pick up the Aldi kitchenware in either blue or orange.

Aldi will also stock Cast Iron Frying Pan, Grill Pan and Grill Tray on shelves from November 24.

All three also cost £12.99.

The dishes are known for their durability over time – with a tough enamel coating over cast iron.

They can be used on induction, fan or electric hobs and can also go into the oven up to 250 degrees Celsius.

As we delve into the colder months and people are beginning to cook more stews, casseroles and hearty roasts, the Le Creuset dishes are proving to be a big hit.

Only days ago police in Hampshire were even put on alert as hundreds of people showed up to the company’s Andover warehouse for a half-price sale.

Buyers lined up in a huge queue that stretched for miles to snatch up casserole dishes, pans and baking trays.

Aldi isn’t the only chain stocking a Le Creuset dupe this winter.

A similar cast iron pan in the classic red and orange is on sale at Robert Dyas for just £31.99.

It comes in a range of sizes, including 22cm and 24cm, which are great if you’re cooking for fewer people, and this 30cm shallow version.

They’re all included in the Robert Dyas Black Friday sale which is already underway and they have to be some of the best Black Friday deals we’ve seen so far this year.

Robert Dyas customers were certainly impressed with the dupe.

“These have transformed my kitchen! They’re so beautiful and easy to clean,” said one happy shopper, declaring them a “must-have”.

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