Media Contact: Susanna Mordaunt or Miranda Yates

Telephone: 020 8765 7515 or 020 8765 7514

Out of hours: 07071 243 243

Embargo: 00.01 hrs Wednesday, August13 2003

PENSIONS NOT A PRIORITY FOR WOMEN SAYSNEW RESEARCH

Womenare most at risk of pensioner poverty but more than half dont save more intopensions simply because they havent got enough spare cash, according to ICMresearch published today by Age Concern and the Fawcett Society.

Evenif they were given an extra 100 a month in their pocket, just 1 in 10 women wouldput it into a pension. Instead 1 in 4 would pay off debts or spend the cash onchildren.

Anddespite rising divorce rates and separation, almost a quarter of all women saythey are relying on their partner to provide for them in later life. Evenamongst 25 34 year-old women, 1 in 5 say they are relying on their partnerfor a pension. The research also shows that just 3 in 10 women are confidentthey have a good pension and are saving enough.

Womensirregular work patterns, generally lower pay and caring responsibilities putthem at most risk of ending up in poverty. A quarter of single women pensionersalready live in poverty and worryingly it seems their daughters andgranddaughters could face the same hardship.

AgeConcern and the Fawcett Society are running a joint campaign to make pensionswork for women. Their research shows that women suffer a pensions gap inretirement, with women in a pensioner couple receiving just a third of theincome of their partner. The two organisations have put forward a programme ofpension reforms which they believe must be a top priority for the Government.

Michelle Mitchell, Head of Public Affairsfor Age Concern said: Todays womenpensioners are most likely to live in poverty and unless the Government takesaction it looks like history will repeat itself for the next generation.

Generallypeople who have a comfortable retirement have a good private pension, but manywomen simply cant afford to save and must rely heavily on the state pension.The current system is littered with obstacles and less than half of womenpensioners qualify for a state pension in their own right.

Katherine Rake, Director of theFawcett Society said: Pressure is mounting on the Government fromthink-tanks, charities and private sector organisations to radically moderniseits outdated pensions policy.

Theneeds of female pensioners must be at the centre of the Governments strategyfor tackling pensioner poverty. What is needed is a state pension which isaccessible and reflects peoples actual living costs.

Ends pr.20.30.07.03/sm

Notes to editors:

• ICM Research interviewed a random selection of 2011 adults aged 18+, by telephone between 30^th April and May 4^th 2003. Interviews were conducted across the country and the results have been weighted to the profile of all adults.

• As part of the Lets Make Pensions Work for Women campaign, Age Concern and the Fawcett Society have developed a programme of pension reform, which includes action to:

1. Make all statepension contributions count

2. Include more low paidwomen and men in the National Insurance System

3. Introduce a betterand more flexible system of credits for carers

4. Close the advice gapwith better financial education and information

5. Better opportunitiesfor women to build-up higher value company and personal pensions.

• Spokespeople and case studies may be available for interview, please call Susanna Mordaunt at Age Concern England on 020 8765 7515 or email mordaus@ace.org.uk

• Age Concern England offers an ISDN facility.

• Age Concern is a federation of registered charities and represents all older people in the UK; seeking to make life more fulfilling by giving them a voice in decisions affecting their lives and to win recognition for the contribution every older person brings to society.

• The Fawcett Society is the UKs leading organisation campaigning for equality between men and women. Our vision is of a society in which women and men are equal partners in the home, at work and in public life.