Women tend to live longer than men, and this has important implications for their financial planning in retirement.
This new research comes from Canada but it's just as important here in the UK.
The Healthcare of Ontario Pension Plan found half 65 year olds are women, rising to 57% at age 75 and 68% at age 85.
As a result of living longer lives, women are more likely to face healthcare and long-term care costs in later life. They are also more likely to live alone during retirement.
“Women are the most vulnerable group,” said Ms. Hidas, HOOPP’s senior manager of strategic research. “They live longer, and they mostly live by themselves.”