Sunday 4 December 2016

Two-thirds of women still have no pension plan

Retirement

Published 01/11/2011 | 05:00

JUST one in three women has a pension, despite the fact that many females regard their spouse or partner to be hopeless with money, new research from Standard Life shows.

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The fact that so few women have a retirement scheme means they will end up depending on a spouse or the State when they retire. But one in five women consider men to be "poor to hopeless" at managing their personal finances.

When asked what they have in place for their long-term future, almost half of women said they have cash or savings.

Attractive

Only a third have a pension, with a similar percentage having property and a little over one-fifth have nothing in place.

Head of marketing at Standard Life, Brendan Barr, said: "Negative pension policy changes from successive governments, culminating in the recent 0.6pc levy imposed on private pensions, has not helped make them attractive.

"We would encourage the Government to maintain income tax relief on pension contributions at 41pc."

However, women are now more involved in their households' financial decisions than they were three years ago. Mr Barr added: "This reinforces research which suggests that some women found their partners had taken higher risks with family finances during the boom than they should have."

Irish Independent

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