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Women 'do not have enough to fund retirement'

More than half of women with a pension do not believe their pension fund will be worth enough to fund their retirement, according to a new poll.

Research by Investec Private Bank found that 54 per cent of women with a pension fund doubt it will produce sufficient returns to provide a retirement income.

Meanwhile, almost two-thirds of women in the UK were found to not have a personal or occupational pension at all.

Linda McBain, head of banking and treasury at Investec, commented: "It's important to have a pension and even more so to invest in a fund which can provide you with an adequate income in retirement."

However, the number of women saying that getting a pension is not a priority for them rose from 17 per cent to 19 per cent in the last year.

The findings are in line with a recent survey by HSBC, which also found that almost two-thirds of women are not contributing to a pension scheme.

Numerous reasons to avoid saving for their retirement were cited, such as a third of women saying that they are not working or only working part-time.

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27/04/2007 16:26:25

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