Women will be in a better position to take out and continue contributing to pensions under proposals...
Women will be in a better position to take out and continue contributing to pensions under proposals outlined in the latest paper for stakeholder provision
One of the main initiatives involves removing the earnings link, meaning that people who are not earning can contribute up to £3,600 a year, either from savings or their partner's income
The main beneficiaries of this proposal are likely to be women who take a career break to raise children
Minister for Women, Baroness Jay, said the proposals ensure women have greater flexibility in providing for their retirement
She said: "Taking time out of the workplace should not have to mean a break in pensions provision
"These proposals take us a vital step forward toward ensuring better incomes for women pensioners
Peter Jordan, pensions manager at Skandia Life, said abolishing the earnings link meant women could continue building up their pension while taking time off to raise children
Jordan welcomed this move but said it was not a major breakthrough because in the past year new plans had been developed in which there was no downside for discontinuance
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