You are here: Home - Credit Cards & Loans -

Scottish Widows campaigns for women and pensions

0
Written by:
08/01/2008

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.”

Related Posts

Tagged:

Tag Box

Debt

Pension

Spending

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

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

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...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

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.

Close