“Retiring is a great feeling. You do not have to punch a clock anymore and you are able to experience new freedoms. But what if you have more expenses than what you expected? Well then, you may need to find a way to supplement your retirement income. Making money on the internet is a good way to supplement your retirement pension fund. The average pension will not go as far as we once hoped it would.”
Many of us will have to wait much longer than originally planned, to receive our state pension. In the UK, women’s pension have undergone huge changes, millions will see their state retirement age extended from 60 to 66 years, and possible longer.
On the whole, women finds it more difficult to save for their retirement, they tend to take time off work to have and to raise children, in most cases, this will prevent them from accumulating sufficient national insurance record of over 30 years service.
Taking time out can also mean that many women are being set back on the career ladder. With a reduce in income, there are less money available to put away for retirement pensions and investments.
In the private sector pension, final salary schemes are almost a thing of the past; companies can no longer afford to continue doing them. People are living longer, and will need more money to ensure a happy and worry free retirement. Unfortunately; it’s becoming blatantly apparent, that the money we’ve diligently paid into our pension schemes, may not be sufficient to finance the comfortable retirement we imagined.