Women would need to work nearly two decades longer than men to achieve the same retirement savings, according to a new report warning that workplace and policy change is urgently needed to close the gender pensions gap.
The report — She’s Earned It: Solving the Gender Pensions Gap — produced by Now: Pensions and communications agency Stand, shows highlights the potential barriers to women savings adequate pensions. It says this gender gap stems largely from lower pay, part-time work and career breaks to care for children or relatives — all of which reduce the size of contributions and the number of years they are saving.
Researchers also found that many women are unaware of the scale of the problem. More than half of female respondents (56 per cent) did not know a pensions gap existed, while one in four women have no pension savings at all. Confidence levels also lag behind men’s: only 29 per cent of women say they feel knowledgeable about pensions, compared with 46 per cent of men.
The problem starts early and widens over time. Among workers aged 18 to 24, four per cent more men than women have a workplace or private pension; by retirement age, the gap has grown to 14 points. Nearly half (47 per cent) of women worry about their financial security in later life, compared with 41 per cent of men.
Samantha Gould, head of PR and campaigns at Now: Pensions, said: “The gender pension gap isn’t just about numbers. It’s about real lives — about women who’ve worked hard, cared for families and contributed to their communities, yet still face retirement with less.”
She called for coordinated action across government, employers and providers, stressing the importance of education and timely communication. “Women are less likely than men to have a pension in place, less confident in their savings and less aware of how to navigate the pension system. That’s not just a financial issue — it’s a communications one,” she said.
For HR and benefits professionals, the report underlines the value of early intervention. Reviewing pension-eligibility rules to include lower-earning or part-time staff, providing clear information during maternity leave or divorce, and incorporating pension education into financial-wellbeing programmes can all help narrow the gap. Many women surveyed (63 per cent) said they wanted more tailored financial guidance, while 62 per cent called for greater government action.
As Gould concluded, “If people don’t see themselves in the stories we tell about money, or don’t understand the options available to them, they can’t take action. Employers are uniquely placed to change that.”
