'Women failing to make the most of their pension' - LEBC

Analysis by the national IFA of its customer base showed fewer women use LEBC's open market service - whereby individuals can shop around for whole-of-market retirement options - to improve their retirement income. Just 25% of women did so in 2017 and 2018, compared with 75% of men. According to LEBC, by exploring the whole of the open market option, a healthy, non-smoking 65-year-old could improve their annual income by up to 5.73% a year. Meanwhile a 65-year-old smoker might lose an extra 13.23% per year of income by failing to shop around, costing them £796 a year on average. Wo...