Pensions warning for women

Pensions

Women are likely to struggle in old age as a “part-time pensions penalty’ means they will be £106,000 worse off than men at retirement, a report has warned. Working fewer hours, either to raise a family or care for elderly parents, results in a 47% reduction in women’s pension wealth compared with men by their late 50s.

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Pensions schemes slammed

Pensions

A new report by the Work and Pensions Select Committee, chaired by Frank Field MP, has called on pension schemes to be forced to publish charges in full, including transaction costs. At present, new rules ushered in last April recommend pension schemes publish this information, but disclosing was made voluntary rather than mandatory.

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