Women in US have just 1/3 of men’s retirement savings, Prudential report says

NEW YORK, June 24 (Reuters) – Women in the U.S. have saved just a third of the amount that men have set aside for retirement, setting up a potential crisis among female retirees, according to a Prudential Financial survey released on Monday.

On average, men had saved $157,000 for retirement, while women had only put aside $50,000 according to a survey of 905 U.S. adults between the ages of 55 and 75.

“The financial futures of certain cohorts – such as women – are especially precarious,” Caroline Feeney, CEO of Prudential’s U.S. Businesses, said in a statement. “Women have a more challenging time saving for retirement,” she added, citing inflation, housing prices and changes in tax policies as the main barriers.