Pensions savings ‘crucial for women’

Women who wish to avoid debt in retirement have been given three pointers for future financial security by the principal adviser of Ruth Whitehead Associates.

Commenting on the fact that many women do not make any provision for their personal pension, Ruth Whitehead said: “They still, even in the 21st century, sacrifice their own futures because they’re concentrating on the needs of others.”

Taking out a pension could help women get into a position where they are debt free when they are older.

Another pointer from Ms Whitehead is to “keep plugging away at Isas” every year and to invest in property.

“If you do these three things, you should be fine when you’re 65,” she concluded.

Women who missed out on making National Insurance contributions between 1996 and 2002 will have the opportunity to buy back these gaps under new plans announced by the Department for Work and Pensions earlier this month.