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Women told pensions are vital for their future
27 May 2008
Women should make sure they have both the state pension and a private pension to ensure they are comfortable in later life, claims an advisory firm.
According to Ruth Whitehead Associates, women are less likely to qualify for the full State Pension rate as they have usually spent time at home caring for children.
Ruth Whitehead, principle adviser for Ruth Whitehead Associates, said: "A good place to start is to make sure that your National Insurance contributions are up to date so that you don't lose out with your state pension provision."
A state pension is unlikely to provide enough money for later life, so women also need a personal pension and other savings, such as Isas and property, claims Ms Whitehead.
"Some sort of personal pension, depending on affordability, is absolutely vital," said Ms Whitehead.
People can only claim the full State Pension rate having made National Insurance contributions for about 90 per cent of the years of their working life, according to the Pensions Advisory Service.
