Plum looks at what women really want

21 August 2007

Did you know that 32% of women have no super savings at all?

This is just one of the reasons Plum Financial Services Ltd (Plum) developed a comprehensive super education kit specifically for women, called What women want.

According to Plum's Senior Education Development Consultant Michelle Brown, with statistics telling us that on average women earn less2,save less3, and yet are likely to live longer4, it is more important than ever that women should be aware of their financial situation and take the appropriate action to ensure they have an adequate income in retirement.

'Of course, we know there is no one size fits all solution for everyone, with many women earning more than their male counterparts and having more savings,' Ms Brown said.

'That is why we have developed a super education kit with women in mind, giving tips and information for women of all ages and levels of financial security, targeting some women-specific issues, such as maternity leave.'

The What women want kit contains a general guide, which discusses financial strategies and financial implications of various life events that women may experience, as well as a comprehensive checklist.

'For example, Plum's research found that half of all women over the age of 65 outlive their partners by 15 years.5 One thing women might want to consider is if their partner's insurance cover is not adequate, they might find themself in a tough spot financially. The last thing you want to worry about in your retirement years is money,' Ms Brown said.

'By prompting women, and their partners, to consider all these factors, while they still have a chance to take action, we are putting them in a better position to have an adequate retirement income.'

Read the full version of this story - What women really want (PDF 37kB).