In the current economic climate setting aside money for your retirement may be a figment of ones imagination unfortunately it can present a harsh reality when the time to retire comes around. A recent Standard Life survey revealed that almost  seven out of ten women (70%) do not own a personal, company or work pension. The trend for female pension provision is down year on year and looks to continue lower unless we see a dramatic shift. Some of the main findings from the survey can be seen below;

  • The average female retirement plan is €37,400, while the average male retirement plan is just over €86,000.
  • 27% of women rely on their husbands/partners to finance their retirement.
  • 23% have a pension separate to their spouse/ partner.
  • 7.5% have a joint pension.

Obviously times are tough and everyone is feeling a pinch in surplus cash, so for many pension contributions are simply not an option. I think there is often a stigma attached to ‘Pensions’ and for many they are complicated and something you would avoid talking about if the term was mentioned. There is also a big dilemma facing people without pensions and that is ‘Can you afford not to save?’. Don’t forget pension contributions are the most tax efficient method of saving, and the key to unlocking the retirement you have always dreamed of.

Pension contributions are available from as little as €25 per month so what are you waiting for?? Call us today for independent expert financial advice.


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