The majority of women leave it to their partners to provide for their retirement pension, a Department of Work and Pensions report says.
The report suggests that women put taking care of the needs of their families as a higher priority than making provision for their retirement pension.
Not only do women lack an understanding of planning for a financial future when reaching retirement age, they also show little interest in retirement pensions.
Family commitments cause women to clock up less time in full time employment, leading to uncertainty about their share of the state pension system.
Younger women seem to be more independent financially and also more pension-savvy. The report found that younger women are doing more to save for their retirement pension.
According to Rachael Vahey from Scottish Equitable there is a sense of apathy among women regarding retirement pension.
"We could therefore assume that automatic enrolment would be of significant help to women, in increasing pension provision and scheme take-up," she said.
"Communication and education within the workplace could also be a valuable tool in getting pensions onto women's' radars," Ms Vahey said on IFAOnline.
Women's apathy towards retirement pension shows in report
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Women's apathy towards retirement pension shows in report
Wed, 29 Jun 2005
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