Are women sleepwalking into a retirement nightmare? That’s the suggestion behind new research published by investment group Fidelity. It revealed that while women’s average retirement income is likely to be around £5,000 less than men, almost twice as many women have no idea about their pension pot or its payout.
It’s not the first time similar worrying research has been published. Last year Scottish Widows reported that women save 38 per cent less than men and that the gap that has been getting wider in recent years. More worryingly, 21 per cent of women have no pension savings at all, compared with just 9 per cent of men, reckoned Prudential.
All these studies send out the same alarm bells: women who are already facing a worse financial future than men will end up even worse off if they do nothing about it.
If you’re a woman, what can you do? The simple truth is that all folk should be planning ahead for retirement.
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