What’s your Pension Provision Look like?
At Cotswold Independent Financial Services we work with people from a wide range of professional and personal circumstances to plan ahead for their retirement. We were shocked to read how few people have a pension planning provision in place.
According to the Chartered Insurance Institute's Securing the financial future of the next generation. 55% working adult women with no children have no pension wealth. This rises to 56%, 72% and 85% for 2, 3 and 4 children – compared with 56%, 49%, 61% and 69% for men. Women with degrees and those in higher social classes are more likely to have a pension. (ONS Wealth & Assets Survey 2012-14).
By 60–64, women have an average pension wealth of £35,700 (men almost four times higher). At 65-69 the gap widens to five times the average woman’s peak pension wealth (ONS Wealth and Assets Survey, 2012–14).
If you would like to see what you'd need to get in place to finance your retirement please contact us to arrange a no obligation consultation with one of our advisers.