Women across Hampshire (from Winchester to Weeke and St. Cross) often face a pension savings gap due to career breaks, part-time work, and pay disparities. But with proactive planning, this gap can be closed for good.
Understanding the Gender Pension Gap
Studies show that women’s pension savings are, on average, 35% lower than men’s at retirement. Reasons include:
- Career breaks for childcare or family care.
- Part-time or flexible working patterns.
- Lower average earnings.
Steps to Bridge the Gap
- Start Early: Even small, consistent contributions add up over time.
- Maximise Employer Contributions: Ensure you’re enrolled in your workplace pension, especially with employers in Winchester city centre or Weeke.
- Use Tax Relief Efficiently: Pension contributions benefit from government tax relief, effectively boosting your savings.
- Consider Spousal Contributions: If you’ve taken time off work, your partner can contribute to your pension.
Local Pension Support for Hampshire Women
Local Winchester advisors in Fulflood and Sleepers Hill specialise in helping women create tailored retirement plans, whether rebuilding pensions after a career break or planning for early retirement.
Empower Your Financial Future
Don’t let the pension gap define your retirement. Contact a local Hampshire pension specialist today and start building the secure financial future you deserve.
