Pensions could be creating a barrier for women who wish to boost their pension savings. A recent report from Women & Retirement shows that pensions lack flexibility because funds cannot be accessed easily. 40% of women say they don’t save as much as they would like because they want to be able to access money in case of emergencies. The report suggest that this anxiety is causing women to not save enough for retirement. Men on the other hand are saving enough for retirement, this could be due to the gender pay gap, women taking maternity leave, or even choosing to work part-time. Making your money work for you could assist in boosting pension savings, and seeking professional financial advice could help to plan effectively for retirement.
