Slightly more women than men are expected to have a comfortable retirement, with a pension worth at least half their final salary, according to new research.

About 27 per cent of women are set to have a pension worth at least 50 per cent of their pay when they retire, compared with 26 per cent of men, according to JPMorgan Fleming.

At the same time 54 per cent of men expect to have a difficult retirement because of the level of their pension, something only 52 per cent of women are concerned about.

However, women are still likely to have a lower income than men, expecting to retire on an average of £16,580 a year, while men expect an annual pension of about £20,541.

But according to Government figures, both sexes are still too optimistic, with the income of a single male pensioner now averaging £11,388, while single women have incomes of just £9,360.

Simon Crinage, investment trust director at JPMorgan Fleming, said: "Our research shows there is now little difference between men and women in terms of likely pension provision.

"However, the overall picture is one of worsening provision in the UK, with the number of people who can expect a comfortable retirement dropping by 3.4 million since 1996."

Tuesday October 28, 2003