Debt help among women could rise due to slump in pension saving
Debt help among women could rise due to slump in pension saving
- Thursday, 2 July 2009The number of women seeking
debt advice in their retirement years could rise, according to new figures.
Research conducted by Scottish Widows found that the number of women over 50 saving enough for their retirement has decreased by five per cent. Only 47 per cent of women are now adequately saving.
These figures represent a 'financial time-bomb'. With nearly half all women not saving enough now, there may be significant numbers needing
debt help in the future in order to manage.
Ian Naismith, head of pensions market development for Scottish Widows, said that women often struggled with pensions savings, but should think about their future as well as coping with present difficulties.
He said: "We have consistently seen groups such as women
falling behind when it comes to pensions savings. It seems that many women over 50 have almost given up on saving for retirement.
"While people may be worried about their current financial situation they need to make sure they continue saving for the future so they can enjoy their retirement."
The overall percentage of people adequately saving has risen from 51 per cent to 54 per cent, as 59 per cent of men are deemed to be saving enough.

Recent Debt Management Plan News
56% of Brits have no life insurance which could leave family with debt problems
Wed, 04 May 2011More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with
debt problems when they die...
Brits thinking about retirement advised to seek debt advice
Tue, 03 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future...
Brits planning to attend a wedding should start saving to avoid debt problems
Thu, 28 Apr 2011Consumers concerned about getting into
credit card debt to pay to attend a wedding may want to use their savings instead...
Couples planning their big day can avoid debt problems by negotiating a cheap wedding
Wed, 27 Apr 2011Couples-to-be worried about needing
debt advice in the future after paying for a wedding can ensure they avoid accruing
debt problems by negotiating a cheap wedding...