Many women also report feeling worried about managing their personal finances and engagement with personal Financial Planning was found to be poor.

Key findings from the survey of 1,000 adults conducted recently were:

•  72% of women have never set up a private pension, 79% have never set up a stocks and shares ISAs and 57% have never consulted a financial adviser 

• 27% of women feel worried when thinking about managing their personal finances, just 21% of women say they feel positive

• Only 32% of women agree or strongly agree they enjoy managing finances and 35% say talking about investments, insurance and pensions leaves them feeling cold. 

PwC conducted research into women’s financial engagement for International Women’s Day, an annual campaign to improve gender equality around the world.

The report, 6 Moments that Matter - how to secure your financial future’ is the result of research led by Jane Portas, Insuring Women’s Futures co-founder, and PwC, which identifies 12 Perils and Pitfalls that culminate in a lack of financial security throughout women’s lives.

This report and guide will be available in a digital format for any woman or girl to use to plan for her financial future.

Jane Portas, author of “Securing the financial future of the next generation - the Moments that Matter in the lives of young British women”, said: “This new research into women’s financial engagement highlights the essential need to improve women’s relationship with risk and finance. 

“It is a call to action for every woman and girl to take steps to secure her financial future - and to be empowered to do so by all of the people in their lives.  Insurance and financial services firms, wider business, policy makers, society and women themselves all have a vital role to play.

Sian Fisher, chair of Insuring Women’s Futures and chief executive of the Chartered Insurance Institute, said: “If we improve financial resilience for women, we improve financial security for all. We can’t change this overnight, and it will take a concerted effort to address the root causes.

“I am thrilled to be supported by a Market Task Force and am calling on every member firm and individual to unite in delivering our manifesto and to be a part of our movement for change.” 

 Insuring Women’s Futures was established by the Chartered Insurance Institute in collaboration with insurance professionals, businesses, third sector organisations and experts on issues relating to women’s risks.

The guide and research can be viewed www.insuringwomensfutures.co.uk