Number of women saving adequately for retirement at four-year high

According to the report, 50% of the UK female population is now preparing adequately. This is an increase of ten percentage points on last year. The introduction of auto-enrolment is seen as a key factor in this increase. On average women who are auto-enrolled are now saving £42.51 per month compared to £49.27 for men. In the 50-64 age group the average savings for women average 10.5% of earnings compared to 11.2% of men. This is approaching the 12% savings ratio Scottish Widows recommends as the minimum necessary for a comfortable retirement. Speaking at the report launch, shadow ...