Women won’t win equal pay till year 2050

YOUNG women expect to be worse off than their mothers and grandmothers, according to research.

These women, “Millennials” born between 1982 and 2002, will struggle to earn as much as men until 2050.

They are also more likely to become carers for both children and elderly parents leaving them dependent on a partner’s pension in old age.

One in seven women in their 40s is caring for both children and an elderly relative and this is likely to increase.

While women enjoy longer lives today with better education and career opportunities, they face more financial difficulties than men, the Chartered Insurance Institute found.

Mothers increasingly expect to work but part-time work, often chosen to fit in with family responsibilities, pays 30 per cent less.

The report also highlights male apprentices earning 21 per cent more and women carrying university debts for longer.

Jane Portas, of accountants PwC, said: “Many of the issues leading to women’s risk exposure are deep-rooted. They will only get worse for the next generation unless we act now.”