Why should I think about my pension?

Most people may have access to some basic State Pension, and those who work may have access to an occupational pension scheme, which can be a secure way to build a second pension. However, women often have career patterns which are very different from men’s, and so need to give special thought to their pension arrangements. This guide should:

• help you find out what your position is now;
• explain what your second pension options are; and
• help you work out how your pension options might fit into your overall plans for retirement.

This guide also tells you what questions you should ask and what you should think about when considering your second pension options.

You may want to get further information about pensions from the Pensions Advisory Service (OPAS), your employer or your union (if you belong to one). See the directory for details about how you can contact OPAS. If you are not sure what to do for the best, you can get advice from a financial adviser. But remember, if you see an adviser you may have to pay for their advice.

Pension entitlement – do I need to do more?

More and more, women are building up their own pension entitlement, either as single people or as part of a two-income household. But, as a woman, the pattern of your working life may be different from a man’s, so you will need to make sure any pension you choose allows for your working pattern and personal circumstances. For example, women often combine paid work with caring for children, or for disabled or elderly relatives. Because of this they may end up with very low pensions of their own. Or, if they are married, they may have to depend on their husband’s pension entitlement.