Women bosses fare the worst when it comes to retirement savings

Women around the world reach retirement with just 74% of the wealth accumulated by men, with the biggest disparities seen among women in senior expert and leadership roles, a new study found.

The study by insurance firm WTW found that the difference across all 39 countries ranged from 60% at worst to 90% at best. The U.S.s gender wealth gap was just above the global average at 75%.

Women in senior positions have the largest gaps in accumulated wealth, with less than two-thirds (62%) of the accumulated wealth that their male counterparts enjoyed at retirement. This was due to the compounded effects of both gender pay gaps and delayed career paths, the study found. For midlevel professional and technical roles, the gap was still substantial at 69%, but it narrowed considerably to 89% for frontline operational roles.

The primary drivers contributing to gender-based wealth disparity include gender pay gaps and delayed career trajectories. Additionally, gaps in financial literacy and family caregiving responsibilities outside the workplace influence womens participation in paid employment and therefore their ability to build wealth, said Manjit Basi, senior director, integrated and global solutions at WTW.