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    July 17, 2018
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PROMOTION Pensions and changes affecting women heages whereby individaals can start to draw their state troductionofautomatic enrolment in the workplacehasalso pension have changed and women in particular are encouraged many womentojoin a pension scheme for the firsttime affected. A woman born after March 1955 will now need and hasgiven them the impetus needed to start considering their to wait until she is 65 before receiving a benefit and if onetement provisions It is fair to saythatalarge proportion of she is aged 46 or under, she will now will have to wait until her wmen are stillunclear as to how mach they need to save inorderto receivethekind of retirement thatthey wish for andthose who have already started savingoften underestimate the amounts required. 67th birthdary Women who have stayed at home to care for children could be greatly affected. However either parent should get National It is therefore now even more important that women take Insurance credits if they have registered Sor child benefit-even i cotrol of their finances. If you would like to review your current household income was too high to receive child benefit. Aparent situation or wantto discuss how you canplan towards a satisfactory thereforemayget Class3creditsorome Responsibilities Protection,income atretirement, then pleasecontact Kim Williams at Kreston Reeves Financial Planning Limited www.krestonreeves.com buut the latter needs to be claimed Wbether single. dihorced or widowed.there willbe nodifterenceillamsgkressoneeves.com T 030 124 1388 between women and men in respect of the requirement toreceive an adequate income. The state pension is even less effective for women as there can be no reliance upon the husband's National Insurance contributions. The introduction of the flat rate pensiorn from 6 April 2016 means each individual needs to qualify for this benefit in their ownright Anyone relying solely on a statepension for their financial wellbeing will be greatly disappointed. You can check your state pension age and likely pension benefis at www.gowauk/state-pension-age Some married women may be relyingon their partners pension for income at retirement although this ignores the real possiblity of situations such as death, divorce or separation inaffectingthese benefits. Both spouses should be making pension provision. With each individual having their own personal allowance before they paytax inretirement,drawing income up tothisthreshold, currenthy E11,8S0 201/19 taxyear) makes a great deal of sense. Kim Wliams Adviser at Kreston Reeves KRESTON REEVES www.krestonreeves.com/financial-planning