· .. -· · - · - ADVISON INDEPENDENT FINANCIALADV S brings you Finance Matters Women continue to lag behind men in pension provision It is no surprise that women's finances have historically been considerably weaker than men's. With no Equality Act and with generations of male domination of the workplace, it has been a long and hard struggle to get to where we are today. Even with all the legal requirements in place for men and women to be treated equally, many surveys still come out showing a gap between women's pay and men's pay in the workplace, even when employed in the same position. Thankfully, this has become less of a problem over time. However, in a recent survey by Scottish Widows*, the response of the 5,200 participants showed that 40% of women were preparing adequately for later life, compared to 49% of men. This gender gap is perhaps not that surprising due to the historical legacy but what is more surprising, and worrying, is that the figure of 40% is down from 42% last year and 49% in 201 1 . That equates to a significant drop in just two years. When looking more in depth within the survey, it also shows that under half of women in their 20's have a pension. Although that figure improves with age, a spokeswoman for Scottish Widows noted 'Of particular concern is the number of women in their 40s who are planning to rely on their partner to help support them in retirement, but are unsure of what their pension provision would be were they to separate' If you feel that your retirement provision may be inadequate, then the sooner you start addressing this the better. If you would like to discuss or review your retirement options then please call us. Initial meetings are without cost and we are happy to come to see you in the comfort of your own home. See our advert below. This article does not constitute advice and should not be taken as a recommendation to undertake any course of action mentioned without consulting a relevant professional. * · Scottish Widows UK Pensions Report 201 3 38 Phonebox Magazine ...if you had invested £1 ,000 in the best performing IMA Investment Fund at the beginning of 2012 it would have been wo h £1 , 3 by the year end, but if you had chosen the worst, it would have been wo h just £570! This is a clear indication of the importance of selecting the most suitable funds and the need for diversification. Advison can help you construct a portfolio of investments thattake into account your aims, attitude to risk and timescales. Why not contact us today for a free initial meeting. Our financial advisers will help you to: • ensure you have a clear financial plan for the future • provide protection and peace of mind for your family • make the most of your hard earned savings and investments • save for your retirement • minimise your personal tax liabilities • protect your estate for your beneficiaries . . .and give you access to ongoing advice and support