Women have €81,000 less in their pension pots than men on average, worrying new research has revealed.

The reason women's savings are less is they simply do not save as much as men, retirement experts Standard Life found.

Standard Life's Retirement Pulse, which surveyed more than 1,100 people in Ireland, shows the average pension pot for women is €89,000, whereas for men it is €170,000.

Despite being more likely to contribute monthly, women are contributing approximately €63 per month less on average.

They are also less likely to feel confident that they are taking the tax relief available on their contributions, with 35% of women feeling confident in doing so in comparison to 43% of men.

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Almost a quarter (24%) are not confident they are making the most of their pension.

But it shows men have more confidence in their pensions and are more likely to keep up to date with how their funds are performing.

Standard Life's Sinead McEvoy said the findings highlighted the difference in the sexes when planning for their retirement.

"Whilst we've seen positive momentum in narrowing the coverage gap, the contribution deficit is significant and confidence, particularly in your pension plan, is key. The research shows by owning and engaging with a pension, you're less likely to have feelings of financial anxiety.

Ms McEvoy said: "At Standard Life, we take our commitment to being retirement specialists seriously. We regularly conduct research to help us better understand how people across Ireland think about, plan for and how they live in retirement.

"It's important to explore how factors such as gender influence the experience so that we, together with advisers, can better help customers as they journey to and through retirement.

"By offering tailored, holistic resources we can support them to live their best lives in retirement."

Women are more likely to be looking forward to retirement, with 61% of women excited to embrace retirement compared to just 45% of men.

This gender difference is consistent across all characteristics such as employment status, income and pension ownership.

In fact, almost a third of men (32%) do not find the idea of retirement appealing. The Retirement Pulse survey revealed more than half (56%) of women of all ages were anxious when thinking about their finances and it would appear pensions are a contributing factor.

Women who report feelings of financial anxiety (40%) are less likely, than those without (14%), to feel they can live comfortably off their pension.

Unsurprisingly, they are more likely to be concerned they won't be able to retire. Those without a pension were more likely to report feelings of anxiety, 61%.

An earlier survey by Standard Life found 90% of people think pensions are a good idea but over half don't own one.