In a major change Mums who stay at home to raise their children will no longer receive smaller state pensions, under plans to be published by the UK Government this week.
In what will be billed as the most radical shake-up of the state pension for a generation, ministers will outline proposals to introduce a “single tier” pension of around £144 a week.
Women’s private and workplace pensions are also often less generous than men’s because they tend to earn less and take time away from their jobs to have children.
I was glad that I wasn’t the only one when I read that more than 70 per cent of women said they found pensions complex and 28 per cent said they were scary.
I’ve decided one of my New Year’s Resolutions is to get to grips with my pension so I’m off to chat with my cousin’s hubby who is an Independent Financial Advisor.
Go and explore Sarah Pennells helpful site who is the founder and editor of SavvyWoman.co.uk – a finance website to help women get more from their money.
What do you think of the new Government’s policy?
Read more in The Sunday Telegraph