Only a third of women (33%) believe now is the right time to invest in their pension compared to 46% of men, according to a survey of 1,100 consumers which looked at investment differences between the sexes during the pandemic.

Some 52% of women said they paid regular attention to the performance of the stock market compared to 68% of men.

Only 33% of women checked how their investments had performed regularly compared to 55% of men.

Aegon’s survey, carried out in March as the Coronavirus outbreak was spreading rapidly, asked questions about the reaction of savers and investors to the virus.

Aegon said there was a “distinct difference” in approach between the sexes, a pattern often seen during more normal times too.

Compared to their male counterparts women were taking less interest and less of a ‘hands on’ approach when it came to their pension and long terms savings, said Aegon.

The survey found women were more risk averse, with only a third thinking now was the right time to invest in a pension compared to nearly half of men.

According to the findings nearly 7 out of 10 men are following movements in the stock market compared to half of women.

Kate Smith, head of pensions at Aegon, said: “Women, it is said, pay less attention to short-term market movements and our research shows that this continues to be the case through the current unprecedented market conditions. By contrast, men are said to be more active investors and are more likely to take short term risks to boost their return.

“However, the continuation of women taking a more cautious approach to saving in volatile markets and a more pronounced aversion to risk may contribute to a greater future pension gender gap. Ultimately, women’s more cautious approach to how their pension contributions are invested means following the current crisis they may be less likely to benefit from any bounce back in financial markets.”