Only 8% of women are confident about retirement – are you one of them?

In an age where women should be equal to men in every way, women are still far behind men when it comes to being confident about retirement. New research from Sanlam Corporate reveals a sobering reality: only 8% of female retirement fund members feel very confident that they will be able to retire comfortably.

According to the Sanlam Benchmark 2025 Consumer Study, nearly half (46%) of women believe they will never save enough to retire, while just 33% feel financially secure about their future, compared to 51% of men.

“This is not just a research finding but a quiet crisis,” Oletilwe Ramashala, head of business development and strategic partnerships at Sanlam Corporate, says. “It reflects a deep and persistent anxiety that many women live with every day and it is driven by structural, economic and social inequalities that women did not create.”

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Why do women fall behind in retirement savings?

Sanlam’s research identifies these key reasons why women continue to fall behind in retirement savings:

• Interrupted careers due to maternity leave and caregiving responsibilities;
• Lower lifetime earnings, driven by persistent gender pay gaps;
• Over-representation in part-time or informal work, often with limited benefits;
• Prioritising family needs over personal financial goals;
• Limited access to financial advice, due to time constraints or lack of confidence.

“These are deeply human, compassionate choices women make when stepping up for their families and communities, but they often come at a long-term cost to their financial security.”

Ramashala believes it is time for a shift from awareness to action and agency. “We must empower women to start saving earlier, engage with advice confidently and make small but consistent decisions that protect their future selves. The tools are there. What we need now is support and partnership.”

ALSO READ: South Africa’s retirement time bomb is ticking…

What can make women save more to feel confident about retirement?

Sanlam Corporate calls on employers, trustees and policymakers to double down on their commitment to women’s financial wellbeing and offer:

• Flexible, well-governed umbrella fund solutions
• Group risk cover to protect families from unforeseen events
• Health care solutions that support mental and physical wellbeing
• Personalised, data-driven engagement tools such as the Age of Confidence calculator and behavioural nudges to drive action.

“We must move beyond viewing retirement as a technical conversation. It is a human one about dignity, freedom and choice. Empowering women to take meaningful steps for their retirement early and with a long-term vision will give them greater confidence to retire comfortably.

“To every woman reading this: your future is worth investing in. You deserve a retirement marked by peace of mind, not worry. It is never too early or too late to begin.”

Ramashala also urgers employers and trustees to remember that the women in their workforce are not just employees but pillars of their communities, caregivers and leaders. When women retire well, society rises with them.”