- Monday, 8 March 2010An
IVA could benefit the increasing number of women who are not contributing towards their pensions, leaving themselves open to financial difficulty.
Laura Goodman, director of corporate communications at Rockingham Retirement, said the situation is creating a "pension income gender gap".
"When you look at financial things, most people think that pensions are a big yawn," she said.
"I think women tend to leave [pensions] to the men and advertising is always really geared towards males so there is not enough awareness out there for women [about the] importance of this."
Women need to start planning for retirement as early as possible and start taking control of their own future, Ms Goodman added.
Her comments follow new figures from Standard Life, which revealed that although women are likely to live on average nine years more than men in retirement, only 38 per cent are planning for their long-term finances. This is compared to 50 per cent of men.
Women were also found to be less than half as likely as men to have a personal pension and twice as likely to admit that they have a very vague notion of what the concept actually involves, the study reports.
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