- Conference
- 2009 National Women's Conference
- Date
- 21 October 2008
- Decision
- Carried
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 applauds UNISON’s continuing campaign for pension provision which reflects the reality of many women’s lives, and does not penalise women who take time out from their careers to care for family or who work part-time, reducing their overall pension pot in retirement.
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, and calls upon the National Women’s Committee to work with the Young Members Forum to raise awareness of these issues.