15 February 2008
The Pensions Advisory Service (TPAS) has launched a special
pensions helpline for women which in its first week has been
inundated with calls.
The purpose of the helpline is to help women have a better
understanding of their pension position and some of the options
they have for providing pensions for themselves. It is aimed at
women of all ages from those just starting out in employment to
those already retired.
Research has shown that there are many obstacles preventing
women from building up adequate pension provision in their own
right - such as lower lifetime pay and periods spent at home
bringing up children or with other caring responsibilities.
Pensions can be complicated and confusing and women are often
unsure of their rights and what they can do to assist themselves.
Also, there are a number of very significant changes to the
qualifying conditions for the state pension coming in from April
2010. These could have a material effect on women's pension
entitlements and need to be understood and taken into account in
developing their retirement plans.
"It is clear that this helpline is needed at the present time.",
says TPAS Chief Executive, Malcolm McLean, "The significant changes
being introduced in 2010 are little more than two years away and
yet many women are clearly unaware of how all this will impact on
them and could influence their pension plans. We will do our utmost
to explain the changes and provide whatever other help and guidance
we can".
