Are women better prepared to pay for long term care?

Posted on 13 June 2011

Women may be better prepared for paying for long term care in old age than men, because they understand pensions better.

Women are generally more "clued up" about pensions, according to Informed Choice, and take saving much more seriously.

Chartered financial planner at the firm, Martin Bamford, suggested that awareness is growing, which could reduce pressure on the public sector paying for care.

He added: "Speaking in general terms I think that a good job has been done in educating women about the need to have retirement prevision and they're really waking up to that message."

More and more Brits are seeking advice about preparing for the future.

Recent research by unbiased.co.uk indicated that retirement planning is top of the agenda for consumers seeking financial advice.

Meanwhile, a poll by Scottish Widows indicated that a fifth of Brits are making no provisions for retirement.

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