Early pension pot access tackles gender gap - Scot Wids

clock

The Pension Policy Institute's (PPI) calls for early access to pension funds has been backed by Scottish Widows, which says the proposal could help reduce the gender gap in private pensions.

Ian Naismith, head of pensions market development at Scottish Widows, says the move would "go some way" to tackling statistics suggesting only 46% of women are saving adequately for retirement, compared with 55% of men. "When they have children their priority becomes to ensure they can provide financially for their families, and tying money up until retirement can seem very unattractive," he says. "All of the options outlined in the PPI paper have attractive features, but the proposal to allow part of the tax-free lump sum to be taken early in particular is worth further consideration."...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read
Schroder Investment Solutions expands distribution of MPS

Schroder Investment Solutions expands distribution of MPS

Expanding the range of DFM choice on the Parmenion platform

Ayesha Venkataraman
clock 06 December 2022 • 2 min read