Pensions And Retirement Blog

Report finds that many women struggle to save for retirement

There has always been a bit of disparity between genders when it comes to savings and pensions. On average reports show that men are more concerned with planning for the future than women and have more savings.

On the upside, according to a report from Scottish Widow, more women than ever are committed to a retirement plan, with over 50% being adequately covered.

But with women living longer than men and the state pension age being increased, are we doing enough?

Kate Smith, head of pensions at Aegon, said: “It can’t go unnoticed that women have made some encouraging steps forward in saving for retirement. However, the difference between men’s and women’s pension savings is stark and there are a number of reasons behind the widening pension savings gender gap.”