- Conference
- 2009 National Women's Conference
- Date
- 7 January 2009
- Decision
- Carried
As women we need to ensure that young women are aware of the benefits of paying into a pension scheme at the earliest opportunity.
In 2007, research by a private bank showed that over half of women aged between 35 and 44 had made no pension provision – apparently believing that they could rely on either their husband or an inheritance to ensure that they did not spend their latter years in poverty.
With the credit crunch biting, soaring bills and conflicting demands on family incomes, it is tempting to avoid the unpleasant truth that the sooner you start paying into a pension scheme, the more chance you have of escaping the poverty trap which means that currently two thirds of Britain’s poorest pensioners are women.
Conference notes the existence of the Home Responsibilities Protection Scheme, which provides some protection of the basic state pension for parents and carers, and applauds UNISON’s continuing campaign for pension provision which further reflects the reality of many women’s lives, and which does not penalise women who take time out from their careers to care for family, or those who work part-time.
However, conference notes that the number of women pensioners grows year on year, and by 2030 life expectancy for women is expected to be 85 years – 20 years or more in retirement. Conference therefore believes that it is essential that young women particularly understand the need to take responsibility for financial independence in pension provision, and the implications of their failure to do so.
Conference further believes that it is essential that more women become involved in the governance of pensions schemes, to ensure that the women’s perspective is properly represented.
Conference therefore calls upon the National Women’s Committee to :
1)Work with the Young Members Forum and the wider union to raise awareness of these issues and to highlight the importance of young women becoming members of a pension scheme;
2)Request that pensions information is produced, specifically targeted at young women, which explains the benefits of joining a pension scheme and the implications of not joining;
3)That the National Women’s committee work with the appropriate UNISON departments to encourage and equip more women to become involved in pensions governance.