Fragmented working pattern often affects female pension calculator, claims Hargreaves Lansdown

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Fragmented working pattern often affects female pension calculator, claims Hargreaves Lansdown

Fri 17th Sep 2010

The fragmented pattern of women's working lives makes pension provisions more complicated and often lower than men's, a representative from Hargreaves Lansdown has suggested.

Tom McPhail, head of pensions research at the firm, claimed it is vital to encourage ladies to start putting money aside for the future, even if they have not been employed continuously throughout their lives.

"We need to raise investors' awareness generally about the importance of making prudent forward-thinking decisions around the retirement income, at the point of retirement," he said.

Mr McPhail noted there are plenty of women who will outlive their husbands, but he noted there are a lot of male pensioners who have signed up for a retirement income that will end when they pass away, leaving their wives to live off whatever they have saved.

These comments were made after Prudential research showed 28 per cent of women aged 40 and over who have not retired are planning on living off their husbands' pensions.

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