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♀️ Retirement Planning for Women

Retirement Planning for Women Close the Pension Gap

Women in the UK retire with 35% less in their pension than men. Career breaks, part-time work, and the gender pay gap all contribute. Proactive retirement planning is essential to close this gap and secure your financial future.

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Understanding the Gender Pension Gap

Women in the UK face a significant pension disadvantage compared to men. Research consistently shows that women retire with pension savings roughly 35–40% smaller than men’s, and the average woman receives £7,000 less per year in retirement income. The causes are structural: career breaks for caring, part-time work, the gender pay gap, and lower auto-enrolment participation rates all combine to create a retirement savings gap that grows wider every year without intervention.

According to the Pensions Policy Institute, a woman who takes just a five-year career break to care for children could see her pension pot reduced by over £50,000 by retirement age, even if she returns to the same salary. Part-time workers – 75% of whom are women – are further disadvantaged by lower auto-enrolment contributions and reduced employer matching.

Key pension issues that disproportionately affect women include:

  • Career breaks – time out of work for childcare or eldercare means missed pension contributions, lost employer matching, and reduced NI qualifying years for State Pension.
  • Part-time working – lower hours mean lower contributions and smaller pension pots. Many part-time workers also fall below the auto-enrolment earnings trigger of £10,000.
  • Gender pay gap – women earn on average 14% less than men (ONS 2024). Lower lifetime earnings translate directly into lower pension savings, reduced tax relief, and smaller employer contributions.
  • Divorce and separation – pension sharing on divorce is often overlooked. Pensions are typically the largest asset after the family home, yet many settlements undervalue or ignore pension rights entirely.
  • State Pension gaps – women who took career breaks before 2010 may have gaps in their NI record. Claiming Child Benefit and NI credits for caring can help fill these, but many women missed the opportunity.
  • Longer life expectancy – women live on average 3.5 years longer than men, meaning pension savings must stretch further. A woman retiring at 66 may need her pension to last 22+ years compared to 18+ years for a man.
Key fact: According to Prospect and the TUC, the average pension pot for a woman at retirement is just £69,000 compared to £205,000 for a man. Even the State Pension shows a gap: women receive an average of £183 per week compared to £203 for men, largely due to historical NI contribution gaps from caring responsibilities.
Gap Analysis

How Career Patterns Affect Pension Outcomes

See how common life patterns create different pension outcomes for women compared to men.

ScenarioContinuous Full-Time5-Year Career Break10 Years Part-Time
Pension contributions over career£240,000£195,000£155,000
Lost employer matching£0£15,000£28,000
Estimated pot at 67 (5% growth)£520,000£380,000£285,000
Annual income (4% rule)£20,800£15,200£11,400
PLSA living standardComfortableModerateBelow moderate
Gap vs full-time–£140,000 less£235,000 less
Important: These figures are illustrative and based on a £40,000 salary with 12% total pension contributions and 5% annual growth. Every woman’s situation is different, and there are practical steps you can take at every stage to close the gap – from spousal pension contributions to NI credit claims to increased contributions when returning to work.
Who Is It For?

Which Women Benefit Most from Pension Advice?

Pension advice can be particularly valuable for women at key life stages where the gender pension gap widens.

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New Mothers

Career breaks for maternity and childcare create immediate pension gaps. An adviser can help maintain contributions during leave, ensure NI credits are claimed, and set up spousal pension payments.

Protect your pension during maternity
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Part-Time Workers

Part-time earnings below £10,000 may fall below the auto-enrolment trigger. An adviser can help you opt in, set up personal contributions, or use salary sacrifice to maintain pension building.

Maintain pension building on reduced hours
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Divorcing Women

Pensions are often the largest asset in a marriage but are frequently undervalued in divorce settlements. An adviser ensures your pension rights are properly valued and fairly divided.

Ensure fair pension sharing on divorce
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Women Approaching Retirement

If your pension pot is smaller than you hoped, an adviser can maximise what you have through drawdown strategy, annuity shopping, State Pension optimisation, and tax-efficient withdrawals.

Optimise your retirement income strategy
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Returning to Work

When returning after a career break, increasing pension contributions is one of the most effective ways to close the gap. An adviser can calculate the optimal catch-up strategy.

Plan your pension catch-up strategy
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Caring for Parents

Women providing eldercare often reduce hours or stop working. NI credits, Carer’s Allowance, and spousal pension contributions can help protect State Pension and private pension rights during caring periods.

Protect pension rights while caring

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Costs Explained

How Much Does Women’s Pension Advice Cost?

Pension advice for women covers the same areas as general advice but with a focus on the issues that create the gender pension gap.

£500–£2,000
Initial Pension Review
Full analysis of your pension position, NI record, career break impact, and catch-up strategy. Includes pension tracing if you have lost pensions from previous employments.
0.5%–1%/year
Ongoing Planning
Annual reviews to adjust your strategy as your circumstances change, including returns to work, salary changes, and approach to retirement.
Worth knowing: Through PensionHelper, our matching service is free. Many women discover they are entitled to NI credits or spousal pension benefits they did not know about, which can significantly boost their retirement income.
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Real Reviews

What Our Customers Say

Sarah J.
Sarah J.
London • Women and Pensions
★★★★★
“Career break was less damaging than I feared”

The adviser set up spousal contributions during my 3-year maternity break and ensured I was claiming NI credits through Child Benefit. When I returned to work, we increased my contributions to catch up. My pension gap is now nearly closed.

Louise M.
Louise M.
Birmingham • Women and Pensions
★★★★★
“Divorce pension was properly valued”

My ex-husband’s pension was worth £180,000 but his solicitor initially valued it at £90,000 using a crude method. The pension adviser got a proper actuarial valuation and I received a fair pension sharing order worth £85,000.

Priya K.
Priya K.
Leicester • Women and Pensions
★★★★★
“Part-time pension was transformed”

Working 3 days per week, I had fallen below the auto-enrolment trigger. The adviser helped me opt in and set up salary sacrifice. My employer now contributes even though they did not have to. My pension is growing again.

Catherine B.
Catherine B.
Edinburgh • Women and Pensions
★★★★★
“NI credits I never knew about”

I spent 12 years as a stay-at-home mum but never claimed the NI credits I was entitled to through Child Benefit. The adviser helped me backdate claims and fill gaps in my record. My State Pension will now be £2,600 per year more.

Jackie T.
Jackie T.
Manchester • Women and Pensions
★★★★★
“Catch-up plan is working brilliantly”

At 48 with only £42,000 in my pension, I felt hopeless. The adviser created a realistic catch-up plan using salary sacrifice and maximum employer matching. Three years in, my pot has more than tripled to £138,000.

Maria G.
Maria G.
Bristol • Women and Pensions
★★★★★
“Retirement was better than expected”

I had three small pensions from different jobs totalling £95,000. The adviser consolidated them, applied for an enhanced annuity based on my health, and combined it with a State Pension deferral. My income is £2,800 per year more than I expected.

Learn More

Related Guides

Learn more about women’s pension issues and strategies for closing the gender pension gap.

State Pension

NI credits and State Pension rights

Pension Gap

Understanding and closing the gap

Couples Pension Planning

Coordinating pensions as a couple

Pension Contributions

How much should you save?

Retirement Income

Building sustainable income

Retirement Planning Guides

Complete guide collection
Got Questions?

Women and Pensions: Frequently Asked Questions

The gender pension gap is caused by career breaks for caring (average 12 years for women), part-time working (75% of part-time workers are women), the 14% gender pay gap, lower auto-enrolment participation, and longer life expectancy requiring savings to stretch further. These factors compound over a career.
Women retire with pension pots roughly 35–40% smaller than men. The average woman’s pension pot is £69,000 compared to £205,000 for men. In terms of retirement income, women receive an average of £7,000 less per year. The State Pension gap is approximately £20 per week.
A 5-year career break can reduce your pension pot by over £50,000 due to lost contributions, missed employer matching, and lost investment growth. The impact is greater the younger you are when the break occurs, because of the longer compound growth period lost.
NI credits are awarded for periods of caring for children under 12 (via Child Benefit), caring for someone who is ill or disabled (Carer’s Credit), or claiming certain benefits. They count towards your State Pension qualifying years. Ensure you are registered for Child Benefit even if you opt out of payments due to the High Income charge.
Yes. Anyone can contribute to another person’s pension. If you are a non-earner, you can receive up to £3,600 gross per year with basic rate tax relief. If you earn, the limit is 100% of your earnings or £60,000. This is a powerful way to maintain pension building during career breaks.
Pensions can be divided through a Pension Sharing Order, which transfers a percentage of one partner’s pension to the other. Pensions are often the largest asset after the family home and should be properly valued by an actuary. Do not accept offsetting without understanding the true pension value.
The “cash equivalent transfer value” (CETV) often undervalues defined benefit pensions. An actuary can provide a more accurate valuation. A DB pension worth £20,000 per year could have an actuarial value of £400,000+. Always get independent financial advice before agreeing a pension split.
You are only auto-enrolled if you earn over £10,000 per year from a single employer. If you earn less, you can ask to opt in. If you earn between £6,240 and £10,000, your employer must enrol you if you ask and must make contributions. Below £6,240, you can join but the employer does not have to contribute.
Increase contributions when you return to work (aim for 20%+ if possible), maximise employer matching, use salary sacrifice for NI savings, make one-off contributions from savings, and use carry forward rules. Even small increases make a significant difference over 15–20 years of compound growth.
During paid maternity leave, your employer must continue their pension contributions based on your normal salary. Your contributions are based on your actual maternity pay. Maintaining your contributions is ideal but if finances are tight, any amount helps. Spousal contributions can cover the difference.
Women receive an average State Pension of £183 per week compared to £203 for men. This gap exists because women historically had more NI record gaps from caring responsibilities. The new State Pension system (post-2016) has improved this, but transitional issues remain for women who had old system entitlements.
For the State Pension, you may inherit a portion under the old system. For workplace defined benefit pensions, most pay a spouse’s pension (typically 50%) on death. For defined contribution pensions, you can inherit the pot tax-free if your spouse died before 75, or taxed as income if after. Nomination forms must be up to date.
Yes, directly. Lower earnings mean lower pension contributions, less employer matching, less tax relief, and a smaller pot. Over a 35-year career, a 14% pay gap on average can result in a pension pot that is £100,000+ smaller, even with continuous full-time work.
Maximise pension contributions while earning fully, build an emergency fund, ensure you are claiming Child Benefit from day one (for NI credits), discuss spousal pension contributions with your partner, and understand your employer maternity pension policy. Planning ahead can significantly reduce the career break impact.
There are no women-specific pension schemes in the UK. However, the same pension products (SIPPs, workplace pensions, stakeholder pensions) are available to everyone. The key is getting tailored advice that addresses the specific challenges women face, such as career breaks, part-time work, and divorce.

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