Financial service providers have been told to do more to improve women’s understanding of financial products.The Government is concerned that not enough women are making proper financial provision for themselves.
At a meeting at 11 Downing Street, representatives of the financial sector were urged to make more effort to market products at women, improve their financial capability, and provide a better range of products for women at differing stages of their lives.
Women are increasingly active in the economy as employees and entrepreneurs.More women are thought to want financial independence, even though their lifestyles are increasingly very different.
Investment organisations need to take account of changing jobs, careerbreaks and greater independence.
The financial sector has shown it can deliver new ideas with the Government,such as ISAs, stakeholder pensions and pooled pension investments (ppis),and has been urged to develop further products to meet the challenge ofencouraging women to invest.