National Savings and Investments (NS&I) has stated that women have more savings than men.
Although earning less than their male counterparts, women's savings are accounting for a higher percentage of earnings.
The information, which comes from the National Savings and Investments quarterly savings survey, shows that on average women put 6.84 per cent of their money into savings accounts - one per cent higher than last year.
Men, on the other hand, put 6.37 per cent of their wages into savings accounts.
However, a higher percentage of men are saving each month, at 56 per cent, although women are catching up at 54 per cent.
Dax Harkins, senior savings strategist at National Savings and Investments, commented: "Despite having an earnings advantage over women, men are failing to make the most of their ability to secure their financial future.
"In contrast, although women are affected by the double whammy of lower pay and the fact that many take career breaks or work part-time, they have impressed with both their actual savings and intentions.
"Increased awareness of these difficulties and focussed debate on women's long-term savings could have sparked this increase."
National Savings and Investments received its third charter mark for excellence in customer service in 2004.
Women make sensible savings, says NS&I
Women make sensible savings, says NS&I
Wed, 07 Jun 2006
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