New research from Aviva Life & Pensions Ireland (Aviva) shows the financial disadvantages women face as they approach retirement - including a 31% gender pension gap
Key findings
- 65% of working women over 50 have never calculated how many paydays they have left until retirement (vs 53% of men)
- 55% feel anxious when they think about retirement
- 58% don’t know what their pension is invested in (vs 39% of men)
- Women are more likely to face barriers to starting or continuing pension saving, including working part-time (23% vs 7% of men) and providing for unpaid care (36% vs 26%), while over half (55%) don’t know what their pension is worth and 58% don’t know how it’s invested (vs 39% of men)
- 65% don’t know the tax benefits available under a private pension (vs. 44% for men)
- Women start pensions later – average age 35.3 vs 32.7 for men, and are almost twice as likely as men to only start saving at age 50+ (17% vs. 9%)
- Aviva estimates a national gender pension gap of 31%, meaning women would need to work ten extra years to match men’s retirement savings
Nearly two in three working women aged 50+ (65%) have never calculated how many paydays they have left before they retire, a simple but effective indicator of how much time they have remaining to prepare, according to new research* by Aviva Life & Pensions Ireland (Aviva).
More than half (55%) say thinking about retirement makes them feel anxious, highlighting just how much uncertainty many of this group face as they approach this stage of life.
The Aviva study, conducted among 255 adults aged 50+ who have not yet retired, examines the specific financial challenges women face as they approach retirement, ahead of International Women’s Day.
Although Ireland ranks highly for gender equality**, long-standing pension gaps remain. Over half (58%) don’t know what their pension is invested in, and 55% don’t know its value. Aviva’s modelling shows that women typically earn less over their working lives, start pensions later and take more career breaks. Analysis of members aged 50+ of the Aviva Occupational Pension Scheme*** indicates that women retire with 31% less in pension savings than men – a gap that would take ten additional years to close at typical contribution levels.
The findings reveal four interconnected gaps that leave women more financially exposed as they approach retirement: a gender pension gap, a knowledge gap, an advice gap, and a confidence gap.
The Gender Pension Gap
According to the Aviva study, women begin their pensions later - at an average age of 35.3, compared with 32.7 for men. They are also almost twice as likely to delay saving until 50 or older (17% for women vs. 9% of men). Over a working life, this leads to significantly less time for their savings to grow, a core driver of the 31% gap.
Regarding why women of this age group don’t typically invest as much into their pension as men, they are more likely to work part time (23% vs 7% of men) and shoulder unpaid caring roles (36% vs 26% of men), both of which reduce total contributions and reduce the pension shortfall over time. Meanwhile, 55% of women say they have no idea what their pension is worth (vs 32% of men) and 58% don’t know how it’s invested (vs 39% of men).
The Knowledge Gap
Two in three women (65%) are unaware of the tax benefits available under a private pension (vs 44% for men), while 22% are unsure what proportion of their salary they are contributing. Awareness of retirement income products such as Approved Retirement Funds (ARFs) and annuities is also lower among women (33% for both), limiting informed decision making.
Aviva’s own data reflects this gap in real life: 31% of ARF customers over 50 are women (vs 69% of men), highlighting how fewer women are engaging with key retirement planning options.
The Confidence Gap
Confidence plays a decisive role in retirement outcomes. Only 29% feel confident about making investment decisions, compared with 53% of men, and 2 in 5 (41%) are unsure what they will do with their pension pot when they retire. Women are also less likely to prepare for early market downturns, with just 32% holding or intending to hold a 1–3 year cash buffer for retirement income, compared with 51% of men.
The Advice Gap
While advice can help close those gaps, women report slightly lower engagement and feel the benefits less strongly. Only 61% have visited a financial advisor, and just 30% say they feel better off after receiving advice. One in five (20%) believe financial advice is more targeted at men.
Aviva supports people of all genders in building long-term financial confidence, with its Women Tackling Finance hub just one key example. Now in its third year, the hub provides short, accessible videos designed to make pensions and investing more approachable. New content has just launched, and the full series is available at Women tackling finance - Aviva Ireland.
This initiative sits alongside Aviva Life & Pensions Ireland’s ongoing commitment to gender equity. Women now hold over half of senior management roles, and the company is also involved in Women in Finance Ireland, Investors in Diversity Gold, and the 30% Club Ireland.
This research highlights four interconnected gaps putting women at a financial disadvantage as they approach retirement – pension behaviours, knowledge, advice and confidence. Many women haven’t calculated how many paydays they have left, and it’s hard to feel confident about the income their pension will provide if you don’t know what you have, how it’s invested, or what options are available to you when you retire. The most important step women – or anyone – can take is to speak with their financial advisor or broker, who can help them understand their options, build confidence and take meaningful steps towards a more secure retirement.
Commenting on the findings, Clair Carroll, Head of Corporate Distribution at Aviva Life & Pensions Ireland said:
ENDS
*according to research of 255 adults aged over 50 by RedC Research & Marketing, conducted in February 2026
**according to the World Economic Forum Global Gender Pay Gap Index 2025, which can be found in full here: Benchmarking gender gaps, 2025 - Global Gender Gap Report 2025 | World Economic Forum
***Aviva’s modelling of the gender pensions gap is based on an analysis of data from members aged 50+ in the Aviva Life & Pensions Ireland Occupational Pension Scheme. Member’s average salaries, retirement projections and savings pots were calculated for each gender to determine the gender pensions gap figure.
The 31% gap reflects differences in average pension savings between men and women, driven by:
- Variations in lifetime earnings
- Differences in typical contribution levels
- Later average pension start ages for women
- Career breaks and part‑time work reducing total contributions
- Lost compound growth from missing earlier years of saving
To estimate the ten-year gap, Aviva modelled how long it would take for the average female pension pot to reach the male average, assuming standard contribution patterns and 3% annual growth from increased contributions. Under these assumptions, closing the gap would require approximately ten additional years of work.