More Women Saving

The number of Scottish women saving adequately for retirement has increased significantly in the last twelve months.

Figures show half the population is now preparing for life after work, that's up by 6% in the past year following significant changes in pensions regulations, including auto enrolment.

Lynn Graves, Retirement Expert at Scottish Widows, said: 

"While it is still early days, the recent pension reforms are clearly helping more women in Scotland to save more for retirement, and to recognise the importance of starting this as early as possible.
 
"A record 1.28 million women are now employed in Scotland overall, but just a third of them are currently part of a company pension scheme, with a greater tendency towards career breaks and part-time working largely responsible for this. The continued rollout of auto enrolment should see this figure continue to increase, however we must not be complacent, and need to explore how saving for retirement outside of paid employment can also be made easier so women are not left out in the cold."
 
Lynn Graves added: 

"We've found that women in Scotland are less confident, but not necessarily less informed than men about the world of pensions. There is a role for government, employers and financial institutions to do more to promote pensions education, providing targeted material and advice for women. We are focused on supporting people to make more conscious decisions about how they manage their money before, during and after retirement."