The number of women investing in Peps and Tessas increased dramatically between 1991 and 1998 according to a report by market researcher Mintel.
The most dramatic change was for Peps. This increased from 2 per cent of the female population to 12 per cent in seven years.
The percentage investing in Tessas almost doubled increasing from 6 per cent to 11 per cent.
Those investing in a employer's pension also doubled from 12 per cent to 24 per cent while the increase for personal pensions was less marked, increasing from 8 per cent to 10 per cent.
But there was a fall in women investing in life insurance which decreased from 27 to 21 per cent.
The report also finds that 48 per cent of women are 'controllers' who enjoy looking after both the daily and longer term financial matters while only six per cent are big spenders.
Mintel finance analyst Lance Close says: "Demographic and social trends will continue to drive the attitudes of women towards finance. The number of single person households is due to increase and many of these will be women who will need financial products of their own, especially mortgages."