Women are risking their future financial stability by prioritising short-term planning

5 October 2021

In the wake of the pandemic, just 15% of female employees have been prompted to save more into their personal pension, and only 13% have increased their workplace pension contribution compared to 24% and 19% respectively for men, highlighting the disproportionate impact the pandemic has had on women in a monetary perspective.

According to newly released research from Close Brothers, 45% of female employees say they feel a greater level of financial anxiety than before the pandemic compared to 38% of their male counterparts.

A new report, ‘Expecting the unexpected: a spotlight on preparing for a crisis’, highlights the extent to which the past 12 months have changed the financial plans of employees across the UK. 59% of women either have already or plan to make changes to their financial preparedness, compared to 55% of men. 73% plan to or have already started keeping a closer eye on their day-to-day spending as a result of the pandemic – compared to 52% of men. 65% are saving more into an emergency fund (vs 57% of men).

Read more here: https://www.financialreporter.co.uk/retirement/women-are-risking-their-future-financial-stability-by-prioritising-short-term-planning.html

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