Did you know that the average pension pot of a woman is less than half that of a man? Maternity leave, breaks to raise children, making ends meet as a single parent without support – all these mean women often have gaps in pension contributions or sometimes no pension at all. You’ve heard of the gender pay gap? This is the gender pension gap. This time we find some options for Di who, at 57 and having raised her son alone, is trying to see how she can provide for her retirement. Is there still time?
In this episode we’re joined by Angela Kirkwood from MoneyHelper, a free and impartial service helping people make the most of their money and pensions. And Legal & General’s Katharine Photiou, Commercial Director for Workplace Savings, shares her tips on how women can reduce the gender pension gap and stop it in its tracks early.
The views and thoughts expressed on this podcast are those of the individuals involved and do not necessarily represent those of Legal & General. This podcast does not constitute or replace the need for financial advice. Content was relevant at the time of recording. This content is intended for a UK audience.
FURTHER READING & FEATURED LINKS:
You’ll find lots of useful information on Legal & General’s website:
You can read more about the Gender Pension Gap and find tips on how to increase the size of your pension pots here: https://www.legalandgeneral.com/retirement/rewirement/gender-pension-gap
You can find out more on the retirement planning course Legal & General have produced with The Open University here: Retirement planning made easy - OpenLearn - Open University and take your own Midlife MOT here: https://www.legalandgeneral.com/retirement/campaigns/midlife-mot
The Government offers a free and impartial service offering guidance on money and pensions choices at MoneyHelper: https://www.moneyhelper.org.uk
You can check if you qualify for the full State Pension on the government website:
If you have gaps in your National Insurance you may be able to pay voluntary contributions. Find out more here:
You can find an independent financial adviser at https://www.unbiased.co.uk
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