Women not preparing for retirement

Nia Williams

March 12, 2010

Women are typically “second best” on issues surrounding retirement planning with a mere 22% having sought advice.

The Defaqto research illustrates:

• Only 21% of women are saving for retirement.

• Just 13% of women are very confident their retirement income will meet their needs.

• 78% of women will be relying on a State pension and 22% on their spouse’s pension

Matt Ward, wealth management consultant at Defaqto, stated that: “The pensions gender gap is well known and further underlined by our findings. A professional financial makeover or “wealthcheck” for mums on retirement planning may therefore provide an astute and practical gift from forward thinking offspring this Mother’s Day.”

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