Women urged to save towards pensions

13 December 2007 / by None
Financial planning and saving are within women's capabilities, a financial adviser says.

However, many are lagging behind men in terms of what they have saved up despite the fact that women were earning more than men in some cases, according to Lisanne Mealing, director of MDM Associates.

She suggested women should pay attention to savings such as in individual savings account (Isas) and pension savings and keep a reign on budgets.

Recent research from Egg revealed that 20 per cent of women earn more than their partner, up from 10 per cent in 2002.

"For a young woman I'd say it's quite important to sit down and work out what your actual outgoings are," Ms Mealing said.

"Women are earning more – they do have, quite often, as much disposable income as men, and sometimes more."

She went on to suggest that by saving in Isas and pension plans women could retain financial flexibility.

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