Shocking insights into women’s pension life journey revealed
IWF Task Force commits to improving women’s lifelong financial resilience following shocking insights into women’s pension life journey.
Women risk financial insecurity in later life due to a culmination of societal, health and financial factors stacked against them, according to a report from Insuring Women’s Futures,
Women today are living longer, are better educated and have greater access to career opportunities, but with earnings forming the basis for pension saving, the gender pay gap is a major contributor to women’s pension deficit. The average pension wealth of women aged 65 is £35,800 – just 1/5th of men the same age, a mere fraction of their financial needs in retirement irrespective of their end of life care costs – on average £132,000 for a 65-year-old woman entering a care home in the UK.
To read the full article, including commentary from CEO of the CII and Chair of the Insuring Women’s Futures committee Sian Fisher, click the link below….
The Chartered Insurance Institute (CII), the leading professional body for the global financial services profession, exists to promote higher standards of integrity, technical competence and business capability. With over 115,000 members in more than 150 countries, the CII is the world's largest professional body dedicated to insurance and financial services.
Our membership covers all disciplines within the insurance industry (claims, broking, underwriting), those working in the life and pensions sector, the mortgage advice market and financial advisers (under the Personal Finance Society brand).
Our Royal Charter requires us "to secure and justify the confidence of the public" in our members and in the insurance and financial services sector.
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