There's a big difference between how men and women are planning for retirement

Women are far less likely to be preparing for their retirement than men, according to new research in Irish pensions.

While the gender pay gap is an issue that has been brought to the fore by a number of recent high-profile cases , the gender pension gap is another problem that is lurking behind.

Taoiseach Leo Varadkar recently described pensions as being “an issue thatbeen long-fingered for too long” and announced plans to bring in an auto-enrolment pension system by 2021.

Now a new survey conducted by Ipsos Mori on behalf of insurer Aviva has found that a lack of preparation for retirement is particularly acute among Irish women.

The survey found that just 8% of Irish women are taking steps to ensure they have adequate income after they retire. The comparative figure for men is almost three times higher but is still at the low rate of 22%.

Respondents to the survey were also asked it they were concerned they won’t have enough money when they retire: 37% of women said that they were worried compared to 27% of men.

The survey also found that44% of women say they don’t understand pensions and investments, compared to 27% of men.

Women are also more likely to continue working after they retire. The survey found that5% of women work full-time in retirement to supplement their pension income, compared to just 1% of men.

Currently, women make up almost half (46%) of the State’s workforce.

“The existence of a gender pension gap is hardly surprising, given that women earn less and in many cases spend less time in the workforce than men because they take maternity leave and time out of their careers to care for their children,” Aviva’s Ann O’Keeffe said upon publication of the survey.

Women are also more likely to work part-time – in fact, women account for 70% of part-time workers in Ireland. But it is worrying that women are so unprepared and lacking information on how best to prepare for their retirement.

The State’s contributory pension is currently €235-a-week but it has been mooted to rise in the upcoming Budget by an extra €5.

Read more Irish news on the city site of Dublin.
retirement menandwomen Ireland
If you notice an error, highlight the text you want and press Ctrl + Enter to report it to the editor
1 view in december
I recommend
No recommendations yet


Post your comment to communicate and discuss this article.

Two people have been arrested following a stabbing incident in Dublin city centre. The incident happened on Essex Quay at around 4.40pm. A man aged in his late 20s was treated at the scene and taken to St James's Hospital with non-life threatening injuries following the incident. A man and woman, both aged in their 20s, were arrested at the scene and are being detained at Pearse Street Garda Station. Gardaí sealed off part of the south quays for several ho...
A kitchen went up in flames yesterday after some Christmas decorations were left on top of a microvwave. The Dublin Fire Brigade had to be called to quell the flames after tinsel caught fire having been left over a mircowave. Firefighters have warned others to be more careful with their decorating saying the tinsel was placed over the microwave's vent causing it to go up once the machine was turned on. They said: "Yesterday, Firefighters attended a kitchen...
A Dublin mother is extremely concerned for the welfare of her 15-year-old son after he never came home from the shop yesterday. Aleksejs Snitko went to the Tesco shop in Balbriggan yesterday, Saturday December 9 at around 4.30pm. His mother Iveta told Dublin Live that when her son left the home, he was wearing light grey basketball shoes, tight sport trousers and a warm navy jacket with a hoodie. He was also carrying a black and blue Puma school bag. The t...
A man and woman were arrested following a stabbing incident that left Dublin city centre on lockdown on Sunday evening. The pair were taken to Pearse st station after another man in his early 20s was hospitalised with 'non-fatal injuries'. It is believed a fight spilled out onto the road with one witness telling Dublin Live that she thought the man was going to be "throw him into the river". She said: "They stopped the traffic while they were fighting that...
The final report into the marine tragedy in which Doolin-based volunteer coastguard crew member Caitríona Lucas died in 2016 is critical of safety aspects of the operation. It concluded that the Delta Rigid Inflatable Boat that capsized was launched in conditions that were outside the operational limits of the vessel and that there were deficiencies with its communications and navigational equipment. Ms Lucas, a 41-year-old mother-of-two living in Liscanno...
A software development company is to create 85 jobs in Galway over the next 12 months. MathWorks says the expansion will lead to the recruitment of candidates with sales, service, marketing or administrative skills. It hopes to hire 20 people immediately with the remaining 65 roles being filled in 2019. The company opened an office in Galway two years ago. It provides sales and services support throughout Europe, the Middle East and Asia, with staff operat...
A woman was allegedly sexually assaulted by a taxi driver in North Dublin on Saturday night. The woman, believed to be in her 30s, had been picked up by a registered taxi from the Main Street in Malahide after socialising in the area and was heading in the Swords direction. It is believed after the taxi driver dropped off the other people in the car, the alleged victim was left alone with the driver for a stretch of road. The taxi driver then allegedly sex...
A man was yesterday convicted of assaulting and injuring his neighbour by “continuously punching and head-butting him”. Peter Lambe, 50, was found guilty of assaulting 62-year-old Gerard Furlong after he pinned the grandad to the ground and left him bloodied and bruised. The victim, who said he is still in constant fear, suffered serious facial injuries during the frenzied attack on March 4, 2016, which came after ongoing disputes. Mr Furlong described how...
The long-suffering father of Trevor Deely has told how he refuses to abandon his dream that his missing son will one day walk back through the front door of his family home. Heartbroken parents Michael and Ann Deely have endured yet another agonising year in which not one single lead has emerged into their youngest son’s baffling disappearance. But speaking on the eve of the 18th anniversary of the last sighting of the then-22-year-old, resolute Michael sa...