Women vulnerable on pensions provision
Tuesday 8 March 2005: The Pensions Board has today marked International Women’s Day by calling on all women to assess their pension situation and to take action to secure their financial future.
The Board has stressed that women are particularly vulnerable in the area of pension provision with only one third of working women outside the public service currently having a pension arrangement.
Speaking about the issue, Mary Hutch, Head of Information and Training, Pensions Board said: “International Women’s Day is a day when all women should stop and think about starting to build up their own individual pension entitlements.”
The Pensions Board considers this to be a very serious matter given that only 46% of women in the Irish workforce have pension coverage. “Women of every age need to secure their future now and look at their pension arrangements. And although for many of these women retirement may seem like a lifetime away, the sad reality is that unless attitudes change retirement for hundreds of thousands of women in the future will mean managing on the State pension of €179.30 per week,” Ms Hutch said.
“It is your responsibility to take action to ensure your independence and security in retirement. After all, you are worth it“Ms Hutch said.
As part of its ongoing National Pensions Action Campaign, the Pensions Board marked the day by distributing its information booklet ‘Women and Pensions’ at St Stephen’s Green Shopping Centre, Dublin, with the assistance of the Minister for Social Affairs, Seamus Brennan TD, and leading RTE presenter Anne Doyle.
The comprehensive booklet outlines the way in which women can provide financial security for themselves as well as addressing the many pension issues specific to women, whether they are married, separated or divorced, working in the home, working as a carer, part-time work, maternity, parental leave and re-entering the workforce.
‘Women and Pensions’ and a range of information booklets published by the Board are available free of charge by contacting the Information Unit at the Pensions Board on Lo-Call 1890 65 65 65 or on (01) 6131900 or by visiting the Board’s website www.pensionsboard.ie.
About the Pensions Board
The Pensions Board is the statutory body set up to regulate occupational pension schemes and Personal Retirement Savings Accounts (PRSAs) and to advise the Minister for Social and Family Affairs, and through him, the Government, on overall pension policy development.
Head of Information and Training
The Pensions Board Tel: (01) 6131900
Q4 Public Relations Tel: 01 4751444 Mobile: 087 2371838