According to a report just released by Scottish Widows, a quarter of women are not putting away any savings towards their retirement and just 47 percent of women are on track to have a ‘comfortable’ retirement.

Men fare slightly better with 59 percent of men saving the recommended 12 percent of income each month.

There are many factors why women can’t save more for their retirement with the most common reason being a large family. 25 percent who have three children or more said they were not saving any more for their retirement. Women over 50 also are unable to save with many reporting that the recession has made them less well off hence their inability to put money away in a savings account.  Read more... (257 words, estimated 1:02 mins reading time)