For this week's topic, I asked Caroline Anstee, Managing Director and Founder of Financial Designers, Anstee and Co to talk us through pension options for women in the UK.
Question: What options do women have to take control of their finances independently?
- If you are in your 40s and still working: Keeping up to date with their pension, having it reviewed regularly and contributing if affordable after looking at the budget. Request a state pension forecast. Have a plan and review it annually, saving as much as you can. Keep protection under review to ensure all liabilities are covered. Review any company benefits and ensure any dependents are secure. Don’t rely on anybody else looking after you in retirement.
- If you are in your 50s and still working: same as before but streamline the plan a bit more, review the plan and see if you are on track. Review whether current plans are still fit for purpose.
- If you are 50 plus without a pension of...