You are here: Home - Credit Cards & Loans -

Scottish Widows campaigns for women and pensions

Written by:

Scottish Widows has urged the Government reconsider its policy on women and pensions, it was revealed today.

In 2006, the Government unveiled plans to introduce a national pension scheme, called Personal Accounts, which aims to encourage workers earning in excess of £5,000 to save for their retirement. The scheme is due to come into effect in 2012.

Scottish Widows has today urged the Government to remain committed to the scheme, due to be read in the Pensions Bill next week, in particular to the £3,600 annual limit on contributions. It has also however, insisted on amendments being made for older women and pensions.

Ian Naismith, head of pensions market development at Scottish Widows, said: “One issue that Scottish Widows has campaigned on for some time is women and pensions. The Government is failing to follow through on Baroness Hollis’s amendment that older women should be allowed to buy back up to nine years of missed national insurance contributions that would boost their eventual state pension.”

He added: “This makes it more likely that women close to retirement could lose out on means-tested benefits if they’re auto-enrolled into Personal Accounts. According to the Scottish Widows Pensions Report, almost a third of women (31%) are not saving anything for retirement.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Consumers cautioned about unauthorised debt

Consumers have been warned to consider the cost of unauthorised borrowing by financial information provider Moneyfacts.