Three times as many men (483,000) earn more than £50,000 in pension income, compared to their female counterparts.

HMRC statistics show men earned £96.6 billion in total pension income last year, an increase from £95.7 billion in 2015/16, while women earned just £52.2 billion, the same as in 2015/16.

Financial adviser Salisbury House Wealth managing director Tim Holmes said this reflects a broader pension income gender gap in the UK.

He said £50,000 is a key threshold to reach to ensure a higher standard of living in retirement, and is achievable through careful financial planning.

He said the p...