[Episode 20] The Pension Gap: Are you recklessly cautious with your money? Artwork

Career Interrupted

Redundancy, maternity leave, perimenopause, menopause, illness, caregiving for elderly parents.

Sound familiar? If you're a women in midlife, chances are you've experienced one or more of these transitions and challenges.

And chances are you've had to hit the pause button on your career.

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Career Interrupted

[Episode 20] The Pension Gap: Are you recklessly cautious with your money?

January 23, 2020 • Joy Foster • Season 1 • Episode 20

In this inspiring episode, TechPixies founder, Joy Foster, is talking with Claire Beveridge (Cohort 18). Claire takes a special interest in money and offers some fascinating insights, offering hints and tips that you do not want to miss!

As a continuation to our 4 part theme on ‘Money’ we are talking all about pensions! When talking about cold hard cash -in all its forms, you cannot forget about saving for the future!

The pension you receive is closely linked to your pay as the contributions towards your sum are typically a percentage of your pay.

As such, the pensions gender gap is a product of the gender pay gap. Often women are excluded from workplace pension savings because they earn below £10,000 – the threshold for automatic enrolment to begin. Women are also statistically more likely to take a career break.

Not only this, but the way men and women behave with their money differs. What do we mean? Well the trends show that men and women invest and spend in different ways. Claire explains why women are “recklessly cautious” about money and what we can do about it.

We are talking about life insurance, income insurance, taking an interest in your finances and creating an action plan!

We all should all sit up and take notice about The Pension Gap! It has an impact on all of us: those women on our free training sessions; those reading our posts; watching our lives and listening to our podcasts. Even if you’re a man reading this! -Is your pension sorted?!

Not thinking about your pension? Just starting to think about your pension? or downright panicking about your pension?! We’re here to help!

Editors note: The current full state pension is £168.60 per week, not around £48 per week. You get around £48 if you've only made the minimum 10 years of contributions.

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