Early pension pot access tackles gender gap - Scot Wids

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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."...

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