Engaging with women on their pensions and retirement planning

As retirement specialists, we know how personal each retirement journey is. Research shows us that the desire for retirement planning among women is high. As industry leaders, we need to work on building confidence and break down the engagement barriers for women.

The working life of a woman is marked with milestones shaping their journey to retirement. Childbirth, child-rearing, and caring obligations can pull and push them in different directions at certain points.
Evidently, women need to start making time to begin their retirement planning. A simple step, like completing our Second Life Questionnaire can make a big difference in starting the journey.

Here are some of the key insights highlighting the confidence gap regarding pensions and retirement between men and women.

44%
of women vs 35% of men are feeling scared/anxious thinking about retirement

Only 23%
of women vs 40% of men feel financially  prepared for retirement

2 in 5
women are concerned they won't be able to retire vs 33% of men

Source: Bringing retirement into focus, 2023. Standard Life.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

​The views shared on this podcast are the speaker’s own and do not represent financial advice.

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Previous webinars

  • Addressing the confidence gap

    Addressing the confidence gap

    Sonya Lennon, Second Life Mentor, leads the discussion with Fiona Keane, Head of HR Europe, and Sinead McEvoy, Head of Technical Solutions.

    They share their personal stories and experiences of retirement planning and explore why women’s confidence and engagement with their pension planning needs to be supported.

  • Exploring the gender pension gap

    Exploring the gender pension gap

    Alan McCarthy, Head of Distribution along with Mary Bright, Head of Social Affairs, Phoenix Group and Sinéad McEvoy, Head of Technical Solutions discuss how the peak years for retirement planning often coincide with the most demanding time in many women’s lives.
     
    This often results in a widening of the gender pension gap as understandably retirement planning often takes a back seat.

  • Inspiring your conversations

    Inspiring your conversations

    The third Women and Pensions webinar in our series was to support you in encouraging women to think and plan differently for retirement. ​

    ​Sonya Lennon spoke with two financial advisers about how they approach their conversations with their female clients.

Financial inclusion to support retirement planning

Across Phoenix Group, we’re working on financial inclusion as a core pillar in our sustainability programme. We are living longer lives, with a greater number of years in retirement. Increasing financial inclusion to support retirement planning is now essential. As part of the Group, we have access to a deeper bank of research, enjoy a range of think tanks and thought leadership. 

For Standard Life, our key focus under this programme is women. We leverage Group resources to continuously develop our programme of inclusion.

Looking for more information?

At Standard Life, we’ve built a platform that helps to re-frame retirement, Second Life. By connecting people, men, or women, to the potential of their future selves, we can begin to have more rounded conversations on how to get there.

  • Planning for retirement

    Visit our retirement hub, where experts share experience and offer retirement planning advice to support your conversations with clients.

  • How much income will my clients need in retirement?

    Share this tool with clients to work out how much they may need to support their Second Life.

The information on standardlife.ie/adviser is designed for financial advisers. It's not suitable for anyone else. If you're not a financial adviser, please go to standardlife.ie for information about the products and services we offer.