Retirement saving 'low among UK females'

Retirement saving is something that many UK women are failing to focus on, research suggests.

According to Defaqto, 21% of females are putting money aside to help fund their later years.

Meanwhile, the firm believes that only 22% have gained financial guidance concerning retirement planning.

The organisation's Wealth Management Consultant Matt Ward recommends that people should consider thinking about such issues as Mother's Day draws near.

"A professional financial makeover or 'wealth check' for mums on retirement planning may therefore provide an astute and practical gift from forward thinking offspring this Mother's Day," he commented.

Defaqto's research also indicates that the state pension is likely to be relied upon by as many as 78% of the country's female population.

Retirement saving may be something that people pay more attention to in the coming years, due to the decline of final salary pension schemes, Hargreaves Lansdown's Head of Pensions Research Tom McPhail recently highlighted.

Posted by David Shuker.