New research highlights the pension gap affecting many women approaching retirement in Ireland. Understanding how pensions work and reviewing your retirement planning can help build confidence and long-term financial security.
Planning for retirement is an important part of long-term financial wellbeing. Everyone’s financial journey is different, and many women in Ireland experience career paths that include periods of part-time work, career breaks, or time spent caring for family members.
These life stages are often meaningful and rewarding, but they can also influence how pension savings build over time. With the right information and guidance, women can take positive steps to strengthen their retirement planning and feel more confident about their financial future.
This article references research published by Aviva Life & Pensions examining the pension gap affecting women approaching retirement in Ireland.
Key Findings from Aviva Research
- 65% of working women over 50 haven’t calculated how many paydays remain until retirement
- Women retire with 31% less pension savings than men
- Women typically start pension contributions later than men
Understanding Retirement Planning
Thinking about retirement can sometimes feel overwhelming, particularly if pension arrangements have not been reviewed for some time. However, knowing where you stand today is often the most important first step in building a stronger financial future.
Exploring your pension options can help you plan for long-term financial security. You can learn more about our Retirement Planning & Pensions
Research from Aviva Life & Pensions Ireland found that many women approaching retirement have not calculated how many paydays they have left before they stop working. This simple exercise can help provide perspective on how much time remains to build pension savings and plan for retirement income.
The research also highlights that many people are unsure about the value of their pension or how their savings are invested. This is very common, and it often reflects how complex pensions can appear rather than a lack of engagement. Taking time to review pension arrangements and understand how they work can help bring clarity and reassurance when thinking about the future.
Understanding the Gender Pension Gap
Research from Aviva Life & Pensions Ireland highlights that women approaching retirement may, on average, have lower pension savings than men. This difference can develop gradually across a working life and is often linked to differences in career patterns, including time spent raising families or supporting loved ones.
Women are more likely to experience periods of part-time work or take career breaks during their working lives. While these experiences are valuable and important, they can sometimes reduce the level of pension contributions made over time. Because pension savings rely on consistent contributions and long-term investment growth, even small differences earlier in a career can influence retirement outcomes later on.
Understanding how these factors affect pension savings can help individuals take proactive steps to review their retirement plans and make informed decisions about their financial future.
Starting Pension Contributions Later
Another factor highlighted in the research is the age at which pension contributions begin. On average, women tend to start contributing to a pension slightly later than men. While this difference may appear small, pension savings benefit greatly from time and compound investment growth.
Starting contributions earlier allows savings more time to grow, which can make a significant difference over the course of a working life. However, it is important to remember that it is never too late to review pension arrangements. Increasing contributions or reviewing investment strategies later in a career can still make a meaningful difference to retirement planning.
Understanding Pension Knowledge and Options
Pensions can sometimes feel complicated, particularly when there are multiple products, tax benefits and retirement options involved. The Aviva research suggests that many women are unsure about how their pensions are invested or what tax advantages may be available through pension contributions.
In Ireland, pension contributions benefit from valuable tax relief, which can make pensions one of the most efficient ways to save for retirement. Taking time to understand these benefits and reviewing pension arrangements regularly can help individuals make more informed financial decisions.
Building Financial Confidence
Confidence in financial decision-making often grows when people have access to clear information and trusted guidance. Pensions and investments can seem complex, particularly if they have not been reviewed for some time.
Speaking with a financial adviser can help bring clarity to these areas. By understanding how pensions work, reviewing existing savings and exploring future options, individuals can feel more confident about the decisions they make for their retirement.
Financial planning is not about having all the answers today. It is about starting the conversation and building a plan that supports your future goals.
Why Professional Financial Advice Matters
Every person’s financial journey is different, and pension planning should reflect your personal circumstances, career path and long-term goals.
Professional financial advice can help you build a clear and structured plan for your future. A qualified financial adviser can help you understand your current pension position, review contributions and identify opportunities to strengthen your retirement outlook.
At Donnelly Financial Planning, we believe financial planning should provide clarity, confidence and long-term support. Our goal is to help individuals and families feel more informed and empowered when making decisions about their financial future.
Taking the First Step
If you would like to review your pension arrangements or gain a clearer understanding of your retirement options, speaking with a financial adviser can be a helpful first step.
Stephen Donnelly, Director, QFA, RPA, works with individuals and families across Ireland. He supports many women seeking greater financial confidence after life changes such as separation or divorce, helping them build financial plans that support long-term security.
You can arrange a consultation here: https://dfp.ie/contact/
Sources
Research from Aviva Life & Pensions Ireland
Women Over 50 Pension Gap Research – Published March 2026
https://www.aviva.ie/group/media-centre/women-over-50-pension-gap-research/
Disclaimer
This article is provided for general information purposes only and does not constitute financial advice. The information contained in this article is based on our understanding of current legislation and practices, which may change over time.
You should consider seeking personalised advice from a qualified and regulated financial advisor before making any financial decisions based on the information provided.
The value of investments may go down as well as up. Past performance is not a reliable guide to future performance, and you may receive back less than the amount originally invested. Pension investments are designed for long-term retirement savings, and access to your funds is generally not available until retirement age.
Donnelly Financial Planning Ltd is regulated by the Central Bank of Ireland.
