Women are big time sufferers when it comes to getting the monetary dues for the efforts that they put in a job.



On one hand is the gender pay gap that stops them from getting what is due to them...and on the other is the lack of funds resulting out of low wages together with short earning spans that does not allow them to invest in retirement plans, there by making old age a taboo for them.



As per a recent study a major chunk of Brit women is not a part of any pension scheme. Six out of ten women are not a part of any pension plan neither private nor a work-based one.

Most of them do not know about the options available to them and keep thriving upon the misconception that they have to be working in order to make pension contributions.



As per Ian Martin, head of pensions and retirement income at HSBC , women who are not working can benefit from stakeholder schemes, where husbands or relatives can pay into the schemes on their behalf. This seems to be a great option for women who have taken a break from employment to raise their kids.



Pension does not appear to be a necessity when one is earning but can lead to grave consequences in shape of old age poverty in the later years.



Understanding its importance of the government has set aside the lack of female pension provision in the UK as one of the major issues to be addressed as a part of the pension reforms to be launched next year.



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