Women have long way to go in pensions savings, says Scottish Widows

www.moneynews.co.uk > Pensions > Women have long way to go in pensions savings, says Scottish Widows

Women have long way to go in pensions savings, says Scottish Widows

Tue 13th Oct 2009

Scottish Widows has suggested that women have a lot of saving to do before they catch up with men in terms of the size of their pensions.

Ian Naismith, head of pensions market development at the organisation, made his comments as the company announced that 47 per cent of women are putting an adequate amount of money into a pensions scheme compared to 59 per cent of men.

He pointed out that the need for women to take time out of work to have children will never change, so it is important that they find ways of funding their retirement.

Mr Naismith suggested that the government needs to offer ladies more flexibility in their pension schemes, with more access to savings being a feature that they could find attractive.

"While many women put their families first they need to take time to think about themselves and their needs when planning for retirement," he added.

Recent research by Scottish Widows indicated that 34 per cent of retirees found that their pension income is smaller than they had expected it to be.

Click here for more pensions news

Related News : Pensions
	Over-55s don't believe in paying for care, reveals Aviva
	East Midlands comes top in pension contributions
	Corporate pensions provider issues advice for businesses
	One third of workers have no pension, claims Prudential
	More than a third of Brits fail to reassess pension risk, claim experts
	Women protest at No 10 over proposed pension reforms
	Retirement age 'to be brought forward by ten years'
	Interest rates held at 0.5 per cent by Bank of England
	Pension contributions fall in recession, ONS reveals
	Equity release for retirement 'might not suite every household'