MoneyTalk (September 2004)

by Arch Financial Planning Limited

PENSION PLANNING FOR WOMEN

The Association of British Insurers (ABI) has published a report this month, based on research, which concludes that 4.5 million working women are not saving anything towards their retirement and a further 4.5 million working women are not saving enough for their retirement.

As well as highlighting women’s attitudes towards pension saving, the ABI’s report shows that women are specifically disadvantaged compared to men when it comes to pensions. For example, 35% of working women do not belong to any kind of pension scheme compared to 25% of men.

Apart from the obvious reasons for women to have adequate pension provision, there are compelling tax planning reasons why every woman should have a source of private or occupational pension income in retirement.

We have updated our Fact Sheet: Pension Planning for Women. If you would like to print-off a copy or read about this important subject further, please visit our website www.arch-fp.co.uk/pension_planning_for_women.htm.

Please let us know if you would like to receive details of a suitable stakeholder pension plan, or have a review of any existing pension plans, whether personal or occupational. If you already have an Arch adviser then please contact him or her, otherwise email direct@arch-fp.co.uk or telephone 01483 204600.

Risk Factors

Any information given in these notes relating to Pensions legislation, Income Tax legislation and Social Security benefits, is based on our interpretation of the current proposals for changes to legislation and Inland Revenue practice. This information is provided for general information purposes only and should not be relied upon in place of personal financial advice.

In particular you are warned that levels of tax and tax reliefs and also State Benefits that may have been referred to, are subject to alteration and, in any case, the value of such reliefs and benefits may depend on an individual's circumstances. These notes are intended as a guide only and do not replace the full product details that accompany any Pension product recommendation.

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Arch Financial Planning Limited

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