PENSIONS FOR WOMEN
A new study of female pension provision by IFG Corporate Pensions shows reduced working hours, combined with career breaks and the proverbial glass ceiling translate to far smaller pension funds for working mothers, The Sunday Business Post reports.
The study finds that the final value of a woman’s pension could be up to 60% lower than a man’s.
Part-time work, career breaks to have children and missed promotional opportunities as a result of taking the time out all affect the final pension.
“The irony is that women actually require more money than their male partners at retirement, as longevity statistics would indicate that women who reach retirement age can now expect to live until 88, compared to men’s life expectancy of 85,” said Samantha McConnell, director at IFG Corporate Pensions.
If you wish to review your pension, contact Noone Casey here