Female contractors need to 'trickle money into a pension'

Female contractors and freelancers should make small, affordable monthly contributions to a pension rather than none at all, an independent financial advisor (IFA) has said.

Workers should start putting money away for their future as soon as possible, Ruth Whitehead Associates advised.

She noted that because of family commitments, many women may not work for as long in a full-time role meaning it can be more difficult for them than their male counterparts to build up a large retirement package.

Ruth Whitehead, director of the IFA, said: "It's important to remember that trickling a small but affordable amount into a pension on a monthly basis is better than making no pension provision at all

"The financial services industry should encourage more people to make affordable pension provision earlier in life by not frightening clients off with admonitions to contribute more than they can afford," she added.

Research from Foster Denovo revealed that over a third of adults in the UK who are still working have yet to put any money away for a pension.