Women urged to plan for the future

With speculation that a policy change will see more women qualifying for the full state pension from 2010, Friends Provident is reminding all women to think more about their future finances.

Its research found that almost a third of British females (30 per cent) aged 25 to 45 - that's 2.6 million women - claim that they live for the day or don't like to think about the future. When it comes to having a financially secure future, only 14 per cent of respondents worry about not having enough money in retirement and only 31 per cent have a personal pension.

Christine O'Grady, senior retail media relations executive at Friends Provident, said: "It is great news if more women will be entitled to the state pension but the cost of retirement doesn't stop there. As people live for longer, it is critical they prioritise retirement planning to ensure they have a stable financial future."

The research also revealed that more than half (54 per cent) said they save £500 or less annually a third of which (39 per cent) said they save only £200 or less a year. More women own a car (67 per cent) than have savings or investments (63 per cent).