Share your thoughts on saving for retirement with Scottish Widows - chance to win £300 voucher!

[EmmaMumsnet]

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We all know that it’s important to be organised when it comes to saving for our retirement. Some of us are pension savvy and have been making regular payment since starting work. Others find it all a bit confusing and scary so bury our heads in the sand. Scottish Widows are interested in finding out how you feel when it comes to saving for your retirement and whether you think women face more challenges when it comes to saving for their retirement?

Here’s what Scottish Widows has to say: “For many, sorting out their pension is at the bottom of the to do list with lots of other day to day priorities to consider. We understand life is different for everyone and a lot depends on what age and stage you’re at in life. Each stage comes with its own set of financial challenges to think about – job hunting, paying rent and student loans, mortgages, marriage, and careers. So when does retirement make the list?

Our latest research shows that many women aren’t planning their pension early enough with women in their 20s far less likely than men of the same age to be saving enough, or anything, for their future. This is worrying given that women statistically live longer than men and earn less.

We want to empower women to take control of their pension whatever their age. We’d love to hear your thoughts as we examine these issues in more depth, so that we can continue to ensure more women take ownership of their financial futures and look forward to retirement.”

So how do you feel when it comes to saving for retirement? Do you feel organised or unprepared? If you’re already retired do you have any tips to share about your experience? What challenges, if any, do you think women face in particular when it comes to saving for retirement? Do you think that parental leave has a big effect on stalling pension payments for women?

Whatever your thoughts are when it comes to saving for retirement please share them below to be entered into a prize draw to win a £300 voucher of your choice (from a list).

Thanks and good luck

MNHQ

Terms and conditions apply

I’m completely unorganised in this! But we barely makes ends meet as it is without having any spare cash to put away for the future 😫

There's not enough education around it. Should be taught more at school to embed the concept early. Auto enrollment will have made a big difference, certainly proved the catalyst for me.

I struggle as mu husbands is the main pension as I've followed him around the world and had next to no career for 20 years - I guess I shall have to be frugal if he chooses to run off with a younger model!

My husband opened an ISA and puts a little in there each week

Im completely unprepared!
There are so many things that are higher priority for the time being; like saving for a house deposit, trying to keep our heads above water when money is short, paying bills etc. As much as I would love to have a big pot saved for my pension fund already, its just not possible. So for now Im burying my head in the sand when it comes to saving for retirement!

Does anyone know whether, once you start receiving your occupational pension, but carry on working do you still have to pay into a pension? We are local government workers so thinking we might use some of our lump sums to pay off the mortgage/ give ds a house deposit but carry on working via agencies, part of the year. I presume we might be auto enrolled?

@MrsPatmore

Depends on the pension and your age, and earnings. And, you can opt out of any pension, whether you are drawing another one or not.

I presume we might be auto enrolled? - yes, but you can opt out immediately if you want to.

Fortunately my parents instilled in me the importance of pensions and used to give me a little money every year for my pension (well dad helped me organise my pension in the first place). I always felt obliged to match the amount of money they put in which was challenging with all the other expenses but my pension pot is doing well and hopefully I will get my daughters to do the same.

Yes, save for the future, but not so much, that the present time suffers - who knows what's around the corner for any of us, so make sure you enjoy life whilst you can

I have seen a pension I paid into devalue to nothing over the years, seems pointless to pay in when it's worth nothing at the end, so I stopped. I concentrated on saving money for a (Then deralict) house 22 years ago instead of any holidays and a big wedding now I am mortage free

I'm saving through my workplace only :(