Planning for the future – a guide to pensions for women

Pension planning is crucial for everyone, but women in the UK face unique challenges when it comes to retirement savings. Women typically retire with significantly less in their pension pot than men, with various factors impacting the amount women have to retire on. Understanding these challenges and taking proactive steps to plan early can often make the difference between a comfortable retirement and financial hardship in later years.

Whether your retirement is many years away or feels like it’s drawing near at a breakneck speed, this guide outlines key points for women to be aware of about retirement planning – and gives you practical tips to help secure your financial future.

The report covers:

· The factors behind the UK’s private and state pension gender gap.

· Information to help you even the playing field and take control of pension planning – from checking and filling gaps in state pensions to making the most of SIPPs and tax reliefs.

· An overview of the pros and cons of different pension types, including defined benefit, defined contribution, self-invested pensions and state pensions.

· Why timing is everything with pensions: starting early could mean you need to invest less over the long run to achieve sufficient retirement funds.

· How wealth planning could help: conducting regular reviews of your pension arrangements, investment performance, and retirement goals could help you stay on track for a financially secure retirement.

Click below to download the report.

The information provided in this article is of a general nature and is not a substitute for specific advice with regard to your own circumstances. You are recommended to obtain specific advice from a qualified professional before you take any action or refrain from action.