Elderly coupleThe gap between the amount men and women are saving for their retirement has grown to a new high of £30,000 over a working lifetime, a study has found.

Women are putting aside just over £82 a month for their retirement on average, compared with men who are saving more than £147, the eighth annual Scottish Widows Women and Pensions Report found.

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Over a year, women are saving £776 less than men, representing the biggest gender pension savings gap the report has ever seen, which adds up to a difference of almost £30,000 or around a year's average salary over a working lifetime.

A 30-year-old woman who maintains this average annual rate of saving would face a shortfall of £29,800 in today's money, compared with her male counterpart, if she retired at 65, Scottish Widows said.

The latest gap is significantly higher than the £700 annual difference between the amounts men and women were putting away for their retirement a year ago.

The share of women saving nothing at all for their later years has also increased since last year. More than a quarter of women (26%) are failing to put anything aside for old age, compared with 23% of women who reported not saving last year.

By comparison, just under a fifth (19%) of men are saving nothing for their retirement, the survey of 5,200 adults found.

The report suggested that the gap has partly been driven by an increase in women's personal debt levels, with around a third (31%) of women saying they are having to prioritise debt repayments over retirement saving.

Excluding mortgages, the typical amount owed has risen to just under £11,000, while women have also had to cut their monthly savings levels to £95 on average, from £130 a year ago. Meanwhile, average monthly savings levels for men have risen from £174 a year ago to £185.

Four in 10 women said they have had to prioritise living expenses above saving for old age in the last year, amid the squeeze on household budgets.