The median gender pay and pension gaps at the Chartered Insurance Institute have narrowed in the last 12 months, the financial professional body has reported.

The CII, which has 127,000 members, says its staff have a median gender pay gap this year of 13.9% compared with 14.6% in 2019.

However, the CII’s mean gender pay gap marginally widened from 14.8% in 2019 to 16.2% in 2020.

During the last three years the professional body says it has re-evaluated job roles to address any “historic anomalies” for part-time workers.

It moved to ‘Anytime Anywhere’ working; trained managers to recognise and overcome ‘unconscious biases’ and committed to the Insuring Women’s Futures Financial Flexible Working and Inclusive Customer Financial Lives pledges.

This year the CII has also reported its gender pension gap.

Data on the 215 employees who were contributing to the CII’s Stakeholder Pension Scheme on 30 April 2020 revealed a gender pension gap of 11.2%.

In 2019, the total gender pension pay gap (median average) was 18.93%.

A  larger  proportion  of  male  employees  (33%)  than female  employees  (28%) make personal pension contributions.

Sian Fisher, CEO of the Chartered Insurance Institute, said: “The CII is committed to improving the recruitment and progression of women, boosting female financial resilience and reducing the gender pay and pension gap.”