Women urged to start pension plan

Women have today been urged by the Pension Board to take out a retirement plan so they can look forward to a stress-free future.

Women have today been urged by the Pension Board to take out a retirement plan so they can look forward to a stress-free future.

Pensions coverage overall for the female workforce stands at just 51%, compared to 58% for men.

David Malone, head of information services, Pensions Board, said 65% of women cite that financial independence is a vital issue in their lives.

“We are all living longer and therefore women, just like men, need to be especially conscious of planning for a good standard of living during retirement,” he said.

Mr Malone said that women tend to have a more fragmented career path than men, it is vital that women give greater consideration to their long-term finances.

He urged all women to get a copy of Women and Pensions’ booklet that will help to plan a stress-free future.

The booklet outlines the options for women when it comes to financial security for themselves and their dependants in retirement.

It addresses issues of particular interest to women such as maternity leave, career breaks, separation, divorce and re-entering the workforce.

The Pensions Board is also encouraging women to visit the on-line Pensions Calculator and work out their future pension needs on www.pensionsboard.ie.

Women should also talk to their employer about a pension or go directly to their bank, insurance company or financial advisor and find out about starting a pension today.

Article courtesy of the Evening Echo newspaper.

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