To mark International Women’s Day today (8 March) NFU Mutual has revealed that its women customers are poor relations when it comes to pensions.

Analysing its own data, it found that only a third of its pensions were taken out by women and on average, those women have pensions worth £7,390 less than men customers.

The company’s financial advisers are encouraging more women to bridge the gap this International Women’s Day.

Financial advisers are aiming to raise awareness with clients over the tax reliefs women are missing out on and encouraging them to take action ahead of retirement.

Anisa Byrne, savings specialist at NFU Mutual, said: “International Women’s Day is the perfect time to strive for more peace of mind in retirement. The significant difference in average pension values shows women are missing out on valuable tax relief available to them.

“It’s still true that women are more likely to have interrupted careers due to pregnancies and bringing up children, and pension contributions often fall during this time. 

“Private pensions and additional contributions can help plug those gaps when women are not working, as savers still receive 20% tax relief on contributions even if they’re not earning. That means for every £80 paid in, HMRC adds an additional £20.”

A recent survey of NFU Mutual’s female customers found that just 30% know how much income they’ll need in retirement.

The provider said very few respondents think they will live solely on their pension in retirement but nearly a third are unsure what else will contribute to their financial future.

Ms Byrne added: “Saving for retirement is important regardless of gender. As well as empowering women in their financial lives, there can be financial benefits to couples having their own pensions.”

• NFU Mutual surveyed 56 female customers in September and analysed pension data from customers in February.