Many women 'not saving enough for the future'

One-third of women aged between 25 and 45 admit they like to live for the day and avoid thinking about how they will ensure they are financially secure in the future, according to new research.

However, the survey from Friends Provident showed that many women are preparing for times ahead with only 14 per cent saying they were worried about not having enough money in retirement, although only 31 per cent have a personal pension.

The survey also showed that 63 per cent of women have savings or investments, but only around half save more than £500 a year.

Christine O'Grady from Friends Provident said: "As people live for longer, it is critical they prioritise retirement planning to ensure they have a stable financial future."

Meanwhile, hundreds of thousands of women have today won the right to a full state pension.

Women who have taken time out of work to raise families or care for relatives will now be able to top up their National Insurance contributions to bring them up to the full state amount.

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