How is the cost of living impacting women and pensions? Get our expert analysis and see what we are doing to help women prepare for retirement.
“Despite increased reporting, stubborn gender pay gaps still persist for women across the UK.”
“Current economic conditions are making it harder than ever to fix the deep inequalities that are at the root of the pensions gap. We need real action to remove the structural barriers impacting women’s outcomes in retirement.”
Jackie Leiper, Managing Director, Pensions, Sharedealing and Distribution.
Get the latest expert analysis in our 2022 Women and Retirement Report.
18 YEARS OF INDUSTRY LEADING INSIGHT INTO WOMENS FINANCES
We have 18 years of dedicated annual research into women's preparedness for retirement, ensuring our clients and the industry have access to the latest insight to influence and shape discussions. Each year we bring together top industry experts to discuss the findings, keeping this important issue top on the agenda.
Our Head of Client Relationships, Workplace Savings, Alison Nicolson shares her views on this years findings.
OUR RECOMMENDATIONS FOR CHANGE
Through equalising shared parental leave rights, addressing the cost of childcare and continuing efforts to raise awareness of the gaps.
It is important to help men and women who are not following the traditional retirement planning routes. Often these men and women are from ethnic minorities and they need help navigating the additional complexities and risks they might face. People may also need help to understand their state pension entitlement.
Encourage greater financial understanding and engagement from an early age in a way that accommodates women and minorities.
It is particularly important to encourage young women to contribute to workplace pensions in a way that considers the challenges they may face.
Given the gender gap in accumulated pension savings, it is important to raise awareness and provide guidance about joint annuities and including pensions in divorce proceedings should be compulsory.
SUPPORTING EDUCATION FOR WOMEN
We are committed to providing access to information, education, and guidance to help women plan for the future.
We’ve partnered with SmartPurse to bring you access to free courses to help you with your finances. From budget detoxes to making a financial plan.
SUPPORTING EMPLOYERS AND THEIR FEMALE EMPLOYEES
For information to help your employees understand the key insights relating to women’s retirement savings, visit our dedicated Women and Retirement page on our Employer Hub.
INFLUENCING THE INDUSTRY
- We work closely with industry bodies to help influence the agenda and lobby for change
- We campaign at scale to raise awareness across the industry, clients and public with annual flagship campaigns for International Women’s Day
- We provide gender specific communications and access education and guidance to help women be better prepared
- We provide education and guidance for employees of our workplace pension schemes, focused on practical tips and considerations for women in the workforce.
CAMPAIGNING FOR CHANGE
Scottish Widows is a proud supporter of International Women’s Day. Raising awareness of the gender pension gap across the UK and driving discussion and change.
Watch our short film to see how we are taking on the gap.