Women 'facing retirement risk'

15/10/2008

Less than half of British women are putting enough money by for retirement, new research from insurer Scottish Widows has revealed.
According to the analysis, just 46 per cent have sufficient savings to protect them from a poverty-stricken retirement - which could leave them vulnerable to debt.

Moreover, the survey excluded people who are not thought to be capable of building up savings - such as under-30s and those who earn less than £10,000 a year.

Ian Naismith, head of pensions market development at Scottish Widows, said: "There is more that women can do to save for the long-term and they should start saving consistently, early in their working lives to make up for the time that may be lost should they have children."

Scottish Widows also found that the number of men who were not saving enough stands at 55 per cent.

The nine per cent gap between the genders has got smaller since last year - when it stood at 13 per cent.

Tags; Debt Management and Banking, Retirement Money Problems,

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