Is there an emotional reason women won't save for retirement?

Having a financial buffer is important in these tough times although granted it's not easy to build up one when our wages are being stretched, so it's not a surprise that women are putting a rainy day fund above their pension needs. The surprise is that it's mostly women ignoring their pension in order to save for a rainy day.

This year's Scottish Widows Women and Pensions report shows that women's retirement savings have fallen over the past year. Women are saving on average £776 a year less than men for their old age, an increase from £700 last year.