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 don't have a pension and work only a few hours, i have a property i rent out which will be my pension x

Don't splash out when you do receive a sudden windfall - that's what you save for your retirement!

I know my pensions are worth very little, though I've worked all my life except 5 years when I brought up my son, these are work pensions too so its rather depressing and I can not save anymore as I'm probably going to have to quit work to become a full time carer for my son and I'm a lone parent

I feel confused and apprehensive and this is after a meeting with a pensions specialist.

We are researching savings for the kids. I frequently plan for the future too. I set some money aside every week and I make use of all the benefits available for families with a disabled child. My local bank has a number of savings accounts for families too. I need to set up my pension plan. Since one of my children has a disability I have felt the drop in earnings. But I’ve also been saving money ever since I started working as a 15 year old teen.

I have a couple of decent pensions from before I had my son but since then I have slacked a bit on that front, I am hoping to make up for it in the years to come as I don't own a property so have no other means of funding my future years!

Ostrich with its head in the sand. thats me.

I have paid into pension for years in the past, but I am not working now so there is just no money to go in. I doubt what I have paid in will amount to much of a pension when I retire as you need to keep paying in continually.

So no sexy black cloak with red lining for me.... probably more of a cheap rain mac for standing at the bus stop with my bus pass!

It absolutely terrifies me if I'm honest. We've never had the privilege of being able to save towards it due to raising a family and not being high wage earners.
By the look of it everyone will be needing to work later to even reach Governemnt retirement age.

hmmmm. I've not given it too much thought as i'm still quite young. Can't keep avoiding the issue forever though can i??!!

I have been paying into a pension since I was 19, I am now 42 my company up until last year were paying in twice the amount that I was putting in( £80 from me £160 from my company) this was a brilliant contribution for my future pension! However last year after being taken over by a new firm our Final Salary Pension, was taken away from us. I know stand to lose £30000 thousand pound from my final lump sum. And around £300 a month for living on. I do feel like it's been a tremendous kick in the teeth for us especially employees around my age and early 50's ! We stand to lose so much . And looking forward to tho future it would be highly likely that the age of state pension entitlement by the time I am ready to finish will be within the range of 70😣. A pension is so important . It's your guarantee of pay to live when you're older . It is looking after yourself and making yourself feel secure and safe.

I have no faith that my work pension will be there at the end. I'll keep paying it or course but wouldn't be surprised about anything that happens in 30 years plus when I finally retire. I'm going with property, pay off early and downsize later.

The goal posts keep shifting, we now pay more money in only to be told we're going to get less money out...
I'm mostly burying my head in the sand and hoping to win big on the Premium Bonds.

I save for my pension through work but don't feel it is anywhere near enough. I'm planning to start putting more in once my youngest is at school. It's hard to think of so far ahead in the future when you need money for things now!

Downsize when retire. Try to have a bit of a pot when retire, but not by going without now, whilst young/healthy enough to enjoy it - you never know whats round the corner

There seems to be much conflicting information regarding retirement its hard to know what to do, i think there needs to be a lot more help for people to decide how best to save and live a good quality life in retirement.

I have a pension but have no idea about how much I will receive when I retire and no idea how to find out either. I feel like companies make it purposely confusing.

We have our workplace pensions and a private pension, but that's about all we can afford at the moment. Savings are pretty non-existent as the cost of living is so high

We started a stakeholder pension for our daughter to help with her retirement.

How can we have any faith in saving via a pension with private companies when even the government unfairly moves the goal posts with little notice, I don’t know.

I think women do find it more difficult to save for retirement due to the continuing pay gap and having maternity leave when having a baby.

Looking to property investment to secure long term income

Tbh cant even think about it when most of us struggle to even get on the housing market (in the south east anyway)

The way things are going, I don't think there will be any proper retirement. I had children late in life. I never had access to a final salary pension and being self employed for much of my career means it's unlikely I'd have enough saved up. I'm hoping that selling my house, downsizing etc, gives me some income.

I pay into my works pension directly from my wages ~ I work with the NHS. It gets taken out before I get my pay so I never miss it. However, I don't feel I'll have enough to live on when I retire and I cannot save into a private pension as money is fairly tight. I do worry about not being able to retire fully when I'm older.

I don't have much of a pension yet but I do have a number of properties