IRISH WOMEN are leaving themselves open to a pensions timebomb because they are less likely than men to make any provision for retirement, a survey shows.
Figures released yesterday by pensions and insurance specialist Friends First showed 43 per cent of women who took part in a recent survey admitted they have no pension plan, while only 30 per cent of men have made no provision for their retirement.
The study also found men were contributing more to their pension schemes than women. It showed 35 per cent of men contributed between 6 per cent and 10 per cent of their incomes to their retirement plans, compared to 24 per cent of women.
Also, while 25 per cent of all those surveyed did not know what kind of pension cover they had, this rose to 38 per cent among women.
Commenting on the findings, Friends First pension and investment manager Simon Hoffman said that women were “at a greater risk of not providing adequately for their retirement”.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)