Women 'losing out by saving less'
The savings gender gap cost women more than £160 million in lost interest alone last year, a report claimed today.
Research from financial services firm Axa found that during 2006 men out-saved women by a multiple of 1.5 times, setting aside £5.3 billion more in total.
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Compilers of the report estimated that British males set aside £15.25 billion last year, earning some £457.6 million in interest.
In comparison, women only managed to save £9.9 billion, earning them £297 million, according to Axa.
A survey of more than 1,000 consumers found that the average saver set aside £1,003.20 during 2006.
While the typical man saved £1,206.50, the average woman could only squirrel away £794.89.
Axa spokesman Colin Nelson said: "It is good news to see so many people setting aside money in short or medium-term savings.
"A total pot of £25 billion for last year alone is very healthy and shows that Britain is becoming a nation of savers.
"However, women are falling some way behind.
"While £411 a year doesn't sound like much, after only five years the average woman's savings pot would be over £2,000 smaller than a man's - not to mention the lost interest."
