Understand your Pension - be proactive and get a better income in retirement.
Many of our grandmothers and great grandmothers saw the institution of marriage as their pension. Many were heavily reliant on a government pension. Thankfully this is rarely the case today. However, there are still a worrying number of elderly women living on or near the poverty line. Women still earn only about 76% of what men earn. Lower wages translate into lower retirement funds as well as smaller government benefits.
With the increasing burden on funding government pensions in the western world, many people are aware that they cannot rely solely on the government to provide a comfortable retirement. The amount you receive will depend on a variety of factors , but suffice to say that the government pension will not allow you to live the high life in retirement! It is clear that many women need to look to additional sources to help build their retirement nest eggs.
No one expects you to understand everything about superannuation and pensions. Hundreds of choices, jargon and changing legislation make it hard to keep up to date. You do not need to get embroiled in understanding all the details of pension legislation. The rules vary from country to country, but the fundamentals remain the same. Whether they are called retirement plans, pension plans or superannuation plans they are all essentially long- term, tax efficient savings plans.
To get a good fundamental understanding of superannuation and pensions, download our FREE Ebook
or watch the first in our series of no nonsense videos
Watch the rest of our series of retirement videos on Pink Investments TV here...
or go through our retirement segment step by step, to get the full facts. It is to YOUR advantage to get up to speed on this topic as you can boost your pension income significantly by following some easy tips.