5 sources of support every woman needs for a better retirement

This year’s International Women’s Day theme is ‘Give To Gain’. The idea is that when people, organisations and communities give support, women’s opportunities grow.

That principle also applies to pensions. Retirement savings don’t build in isolation. They reflect pay, time spent out of work, access to education, and the support people receive at different stages of life.

In the UK, the gender pension gap remains significant. By midlife, women often have far less saved than men, largely due to lower earnings, career breaks and part-time work. PensionBee research shows this gap stood at 37% in 2025.

For years, the focus has been on women’s ‘confidence’ around money. But evidence suggests the gap is rooted in structural and social realities.

A University of Edinburgh study found women approaching age 60 hold around 75% less in private pension savings than men, pointing to long-term pressures such as lower pay and unpaid care. Research from University College London (UCL) also shows women in their early 30s are paid less than men in similar roles, even with comparable qualifications and experience.

We need to change the narrative. For too long, the responsibility has been placed squarely on women’s shoulders - to earn more, save more, negotiate harder. But pensions don’t simply reflect personal choices. They reflect the economic systems women move through every day.

Here are five sources of support that shape women’s pensions over time.

1. What employers can give: transparent pay and pension contributions

Workplaces play a significant role in shaping long-term financial security. For many people, a workplace pension is the main way they save for retirement, with contributions linked to salary and supported by employer payments.

Because of this, the decisions employers make around pay, progression and flexibility can have a lasting impact on women’s pensions.

Small differences in earnings or time out of work can build up over the years, but supportive workplace policies can help close that gap.

Employers can make a meaningful difference by:

• offering fair and transparent pay structures;
• supporting career progression at all stages of life;
• providing flexible and part-time roles with opportunities to grow; and
• helping employees stay enrolled in pension schemes during key life moments.

Workplace pensions also include employer contributions, which is money added on top of an employee’s own savings. Staying enrolled means benefiting from that extra support, which can make a significant difference over time.

When workplaces recognise different life paths and provide the right support, they can help more women build strong and secure retirements.
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2. What partners can give: shared financial responsibility

Financial outcomes are often shaped at home as much as at work. Many women take time out of paid work or reduce their hours to care for children or relatives. While these choices can make sense for families, they can also reduce pension contributions over time.

Time out of the workforce usually means:

• lower earnings;
• fewer pension contributions; and
• slower long-term growth.

That’s why shared financial responsibility can make a real difference. When partners support each other financially, it can help protect both people’s long-term security.

Support might look like:

• sharing childcare costs so both partners can keep working;
• taking paternity leave or sharing parental leave;
• contributing to a partner’s pension during career breaks; or
• making sure pensions are included in financial planning and, if needed, in divorce settlements.

There are also practical steps that can help. For example, the partner who claims Child Benefit for a child under 12 usually receives NI credits, which count towards the State Pension. If the wrong partner claims, those credits can be missed.

It’s also possible to pay into a non-working partner’s pension. Up to £2,880 a year can be contributed, topped up to £3,600 with tax relief, even if they have no earnings.

Pension Sharing Orders (PSO), meanwhile, may allow part of one partner’s pension to be transferred to the other after a divorce. Since pensions are often one of the biggest assets in a relationship, including them in settlements can help create a more balanced financial future for both people.

3. What the State can give: protections and policies

Government policies also play an important role in shaping pension outcomes. The State Pension forms the foundation of many people’s retirement income, and the rules around it can help soften some of the gaps caused by life events.

For example, National Insurance (NI) credits can protect State Pension entitlement during periods when someone isn’t working. This can include:

• time spent caring for children; or
• time spent caring for a family member who’s ill or disabled.

These credits recognise that unpaid work still has value. Without them, many carers would see their State Pension reduced simply because they stepped away from paid work to support others.

Auto-Enrolment has also changed the way people save for retirement. By automatically enrolling eligible workers into pension schemes, it’s helped millions start saving without having to take the first step themselves.

More changes are on the way. The government has passed legislation to expand Auto-Enrolment to younger and lower-paid workers, which could help more women start saving earlier in their careers.

But gaps remain. Many part-time and self-employed workers still miss out on workplace pensions, and NI credits aren’t always easy to understand or claim. That means there’s still a role for policy, employers and the wider system to do more.

Policies like these show how support can be built into the system. When the rules recognise different life paths, they can help create more equal outcomes in retirement.

4. What communities can give: knowledge and mentoring

Financial confidence doesn’t always develop on its own. Many people grow up without learning about pensions, investing or long-term saving. 

That’s where communities can make a difference. When people share knowledge, experiences and encouragement, financial confidence tends to grow.

Support can come from many places, including:

• financial education programmes;
• mentoring at work;
• community groups;
• online learning platforms; or
• open conversations with friends and family.

Talking about money can feel uncomfortable, but it can also be powerful. A single conversation can lead to a new habit. A piece of advice can lead to a long-term financial decision.

Over time, those small moments of support can add up. When knowledge is shared, more people feel able to plan, save and invest for the future.

5. What independence can give: flexibility, control and momentum

Not everyone has a partner to share financial responsibilities with. Many women live alone, are single parents, divorced, widowed, or running households on one income. Others are self-employed, freelancing or managing irregular earnings.

In these situations, financial planning can look very different. There may be no second income to rely on, no shared bills, and no partner’s pension to fall back on. That can make retirement saving feel more challenging.

Community and structural support matter, but they can take time to change. Sometimes the most powerful shift comes from feeling able to take small, practical steps yourself.

Independence can bring flexibility and control. Without needing to coordinate finances with someone else, many women can shape their saving plans around their own goals, timelines and priorities. Small actions, taken consistently, can build real momentum.

That support might come from:

• speaking to an Independent Financial Advisor (IFA) or guidance service;
• setting a regular ‘money date’ to review income, spending and savings;
• dedicating time each month to learn something new about money, such as budgeting, pensions or investing;
• automating small pension or savings contributions; or
• using tools that help track progress over time.

For single-income households, the focus is often on consistency rather than perfection. Small, regular contributions, made when possible, can still build momentum.

Support multiplies over time

This year’s International Women’s Day theme reminds us that support compounds over time. It doesn’t just help in the moment, but it can shape financial outcomes for decades.

Fair pay and workplace pensions can strengthen savings. Shared responsibility at home can balance retirement security. State policies that recognise unpaid care can narrow gaps. Communities that share knowledge can build confidence. 

And personal habits, built slowly and consistently, can turn small contributions into meaningful pots.

No single action will close the gender pension gap. But layers of support, built up over time, can start to change the picture.

Risk warning

As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.