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Womens Pensions

Despite the trend towards equality in womens finances, they are still lagging behind when it comes to women pensions.

Married men, 47% of whom have some sort of pension, lead the way, with only 27% of married women having pension for their retirement. This is largely due to women taking time off from their careers to raise children.

However, the advent of the "Stakeholder Pension" may go some way to correct this imbalance as companies are encouraged to implement these financial measures.

It is essential that all working women seek financial advice about planning for their retirement - it is unwise to rely on their partner's pension for a number of reasons. The best advice for women in this situation to contact a professional financial advisor for help and assistance with these matters. A good source of information is the Financial Services Authority (FSA), an independent non-governmental body, given statutory powers by the Financial Services and Markets Act 2000.

The FSA is accountable to Treasury Ministers, and through them to Parliament. It is operationally independent of Government and is funded entirely by the firms it regulates. Their objectives are:

• market confidence: maintaining confidence in the financial system;
• public awareness: promoting public understanding of the financial system;
• consumer protection: securing the appropriate degree of protection for consumers; and
• the reduction of financial crime: reducing the extent to which it is possible for a business to be used for a purpose connected with financial crime.

Story on womens pensions - 2 November 2005 - Click Here

For further information contact an FSA approved financial advisor. Click Here.