Women are still likely to be at a financial disadvantage to men at retirement despite the government's proposed reforms to the State pension and personal accounts, suggests research produced for Scottish Widows.
The government’s proposed move to reduce the minimum number of years people should pay National Insurance contributions from 44 to 30 years levels the playing-field in relation to the State pensions system, as women are currently more likely to give up or reduce their working life to raise children, and reducing the number of years contributions are needed would therefore allow space to do so without financial penalty to their State benefits. However, according to case studies commissioned by the life insurer and produced by the Pensions Policy Institute, the likelihood is women will still...
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