More men reaching retirement with full pension, study shows

Fri, 11 Aug 2006

A higher proportion of men are retiring on a full state pension than women, according to government figures.

Some 85 per cent of men are able to claim a full state pension, compared to 30 per cent of women, the Department for Work and Pensions statistics reveal.

The government has warned women who do not have personal pension plans or savings accounts that they could be reliant on the state after reaching retirement.

Meg Munn, minister for women, stated that this would be an unwanted situation for most women.

Minister for pension reform, James Purnell, commented: "Half of all women stop saving for retirement when they have children.

"Our reforms recognise this caring role with a new contributory principle - making the state pension system fairer for women and carers who take time away from employment to raise children or look after others."

Mr Purnell added that the government planned to make it easier for women to have a personal pension plan.

Recent government reforms on the pension system could lead to many working until the age of 68 before they are able to take out a state pension.


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