Female pensioners are 'leaving themselves vulnerable'

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Female pensioners are 'leaving themselves vulnerable'

Mon 8th Mar 2010

Laura Goodman, director of corporate communications at Rockingham Retirement, said that women tend not to treat their pension plan as seriously as men and this is creating a gender gap.

She added: "You've got a percentage of women that still are looking after the home and bringing up children and they are going through years of not contributing towards a pension."

Research conducted by Standard Life found that half of all married men at retirement age purchase a single life annuity but neglect to ensure their spouse has private pension income.

A single life annuity would leave the spouse at risk of having no income from that private pension fund if the husband dies first.

Although women are statistically more likely to live longer than men in retirement, less than 38 per cent of women, in comparison to 50 per cent of men, plan for long-term financial security.

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