The average woman in her 20s would have to work 37 extra years to retire on the same pension as a man of the same age and the Coronavirus pandemic has made the situation worse, according to new research.

A new survey has revealed that women over 50 are one and a half times more likely to have suffered mental health problems than men since the start of the pandemic and are more likely to have money worries about the future.

Former Pensions Minister Sir Steve Webb, now a consultant at pensions firm LCP, says that papers published alongside today’s Budget reveal a “mind numbing” £3bn repayment to underpaid women on state pensions.

Chartered Financial Planning firm Cockburn Lucas has expanded its Cockburn Lucas for Women service with a new hire.