25th October 2013

Scottish Widows:The latest UK women’s pension savings figures revealed

The latest UK women’s pension savings figures revealed

Our 9th annual Women and Pensions Report contains useful insight around what motivates women’s pension savings. It explains the latest pension savings position for women and, for the first time, breaks these insights down by age group.

 Download the 2013  Women and Pensions Report (pdf)   

The report highlights that just 40% of women, compared to 49% of men, are preparing adequately for later life - a drop from 42% last year and 50% in 2011.

Key findings from this year’s report:

18 – 21 year olds 

• 81% don’t have a pension scheme
• 30% aren’t saving for a pension as they don’t understand them

22 – 29 year olds             

• 54% don’t have a pension scheme
• 83% don’t know what an annuity is

30 – 39 year olds                         

• 21% expect to rely on their partner’s income in retirement
• 35% are unsure how automatic enrolment affects them

40 – 49 year olds                          

• 23% prioritise supporting their children over retirement  saving
• 24% expect to rely on their partner’s income in retirement.

To find out more.  Download our full report (pdf).

Pensions