In this episode Roy Thompson talks with Gill Lynes, Senior Financial Planning Manager at MHA Carpenter Box Financial Advisers. They discuss the various factors that result in many women under-saving for their pension and what actions can be taken to ensure a sufficient income in retirement.
Statistics reveal that women are adversely affected when it comes to pensions. Research published by Unison show that 52% of women are adequately saving for retirement compared to 60% of men. In addition, female pensioners have on average a net weekly income which is approximately 85% of their male counterparts, and yet women account for 61% of pensioners above state pension age.
Topics of discussion in this podcast include:
- Socioeconomic reasons that can contribute to low pension savings
- The impact of National Insurance contributions on state pensions
- Financial planning in couples
- Child Benefit considerations
- Taking pensions into consideration in a divorce
- Financial education and where to find lost pensions
Please contact MHA Carpenter Box Financial Advisers for advice on pensions or retirement planning.