Tel: 074 912 4366
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Pension Planning: Listen up ladies.  It’s time take action. Stop making excuses about why you can’t or won’t start a pension – your financial future is a stake.

Dramatic, harsh, scary! These are some of the words that might spring to mind.

‘Sure it’s alright for her up there in the Port Road. She doesn’t know what is going on in my day to day life.’ 

And I do understand thoughts like that. It’s easier to ignore what we can put on the long finger.

But right now, I want you to pay attention and take responsibility for your pension and saving for retirement.

In June of this year, research carried out by IPSOS Mori (on behalf of Aviva) advised that:

  • Almost 4 in 10 women (37%) say they are concerned they won’t have enough money when they retire, compared to 27% of men.
  • 24% of women don’t know how much they will need to be comfortable in retirement, compared to 14% of men.
  • Just 8% of women say they are taking steps to ensure they have an adequate level of income during retirement, compared to 22% of men.
  • 27% of women do not regularly set aside money in a pension for use in retirement, compared to 18% of men.
  • A quarter of women have not considered the pension income they would need to be comfortable during retirement. This is compared to just 14% of men.
  • 5% of women end up working full-time in retirement to supplement their pension income, compared to 1% of men.
  • 44% of women say they don’t have an understanding of pensions and investments, compared to 27% of men.

This research shows that while the economy is recovering, the pension savings gap is not being reduced.  

Women generally live longer, earn less, and often spend less time in the workforce than men due to maternity leave or time out of the workplace when children are young.

The entitlement to the Old Age Pension has already been stretched to age 68 with talk of moving that date to age 70. Do you want to work until you are 70?

Ladies, the statistics speak for themselves. We are not taking responsibility for our futures. 

Start planning today! No excuses!

A good financial advisor like me can talk you through your options.

 

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