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.”