Women and Pensions… the earlier you start the better
Why is it that just a third of women own a pension despite the fact that women make up over 50% of the workforce?
And why is it that according to a recent Standard Life survey, it was revealed that 71% of women don’t know how to start a pension?
Are we as an industry not getting our message across and if not how do we go about doing so?
I hope to do so now in simple terms, in a few short lines!
The first point about pensions: they are the most tax efficient vehicle of saving, not alone do you get tax relief on the amount you pay in but any growth the fund makes also grows tax free and at retirement you can get 25% of your fund tax free.
Secondly, everyone needs a pension unless you can afford to live on the state contributory pension of €238 weekly. That is assuming that this will still be there when you retire and if so may not become payable until 70!
Thirdly, you cannot start contributing early enough, the earlier you start putting money into a pension the more that will be in your fund and the earlier you can draw down the benefits. Of the women that have pensions with me, it is my experience that they don’t want to work until 65 and beyond, so the message is start as soon as you can.
Secure your future and start your pension today. Call me on 064 6636410 / 087 2461599 and I can help you invest in your future…….