Women lack confidence with pension plans - Pensions - News - Moneyfacts


Women lack confidence with pension plans

Women lack confidence with pension plans

Category: Pensions

Updated: 05/10/2012
First Published: 06/07/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Women are still behind men when it comes to planning for their future.

A quarter of women said they have no confidence when planning for retirement and many see themselves relying on their partners' pensions.

Compared to 13% of men, 25% of women lack confidence with retirement savings and worryingly a fifth view their partner's pension as part of their own retirement plans.

The survey, by the National Employment Savings Trust (NEST), showed women feel more positive about their future workplace pensions, as a result of the forthcoming auto enrolment law.

By law all employers will have to enrol their workforce into a qualifying scheme, making it easier for people to save for retirement. Nearly 72% of women feel the law will alleviate worries of unplanned retirement, compared to 65% of men.

It is thought around 5.5 million women will benefit from the new law, due to take effect in October this year.

What Next?

Learn about your pension options

For help or a pension quote call TQ Invest:
0800 294 7203

Looking for a pension to help you save for your retirement? TQ Invest can help.

Find an old pension – contact the Pensions Tracing Service on 0845 600 2537

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Pension funds defy uncertainty with strong returns

Economic uncertainty has been a persistent theme in recent months, but happily, not every area has been negatively impacted. Indeed, our latest figures show that the pension sector has bucked the trend and posted unexpectedly strong returns.

Do you know what a pension is?

Pensions are something we all need to get our heads round, and we’re continually told that it’s important to start saving into one from as early as possible. Yet new research suggests that this advice could be falling on deaf ears.

Record number of 100-year-olds

The chances of living to be over a hundred years old are going up, as figures from the ONS show that there were a record number of 14,570 centenarians in 2015, an increase of 65% over the last decade.