Tuesday 16 January 2018

What women want and what they'll get

Women have 33pc less saved for retirement than men. Photo: Getty Images.
Women have 33pc less saved for retirement than men. Photo: Getty Images.

LOUISE McBRIDE

More than one in four women rely on their husbands or partners to finance their retirement, according to a new survey published by Standard Life.

The survey also found that 70 per cent of women don't have a personal, company or work pension – and that almost half of these said they can't afford to save into one in the current environment.

"There are women who can't afford to save in this environment – but there are probably quite a few women who simply haven't gotten around to it, or don't understand how much money they would have made from saving €200 per month into an average pension over the last 30 years," said Aileen Power, a spokeswoman for Standard Life.

"I do worry about women when I see these results. Women want independence and their own money in retirement if at all possible. But you can't have independence without saving for it."

Sunday Independent

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