Women fear their work patterns will mean poverty in old age

Two-thirds
of women think they will face poverty in old age because they cannot afford to
save for retirement.

Research
by Age Concern and the Fawcett Society find that women’s irregular work
patterns, caring responsibilities and often lower wages means only 30 per cent
of female workers think they are saving enough for the future.

The
survey finds that just under half of men feel they will have enough put aside
in later life.

Katherine
Rake, director of the Fawcett Society, which campaigns for gender equality,
said the state pension was particularly important to women because of lower
pay, broken employment records and less access to occupational pensions.

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But,
she said: "The current state pension is not working for women as it is
based on the old assumption of men as the breadwinners and women as
stay-at-home carers."

By Michael Millar