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Women: 43% aren’t making retirement provisions

Nov 4, 2021.

Too many women aren’t thinking about their retirement provision. We asked and the answers are clear: it’s not just a stereotype. Unfortunately, it’s true. Our representative survey reveals fascinating figures, the biggest hurdles and how Covid has changed the issue of retirement provision for women.

The starting point is really good: retirement provision is very important for eight out of ten women in Switzerland. Surprisingly, 43% of female respondents are not saving for old age. So, most women are aware that they should be thinking about their pension. But they’re not doing anything about it. Many are unaware of the gaps in their pension fund that have arisen due to maternity leave or part-time work. That’s why half of the women surveyed are at risk of slipping into poverty in old age.


Why do so many women put off the issue of retirement provision? Or simply aren’t interested in it? The survey shows where the problems and triggers lie.


Bad retirement provisions among women: the underlying reasons


«The topic doesn’t interest me (yet).»

This statement will cause major financial problems for any woman sooner or later. A lack of interest among single parents – of which around 30% consider the topic to be unimportant – is a particularly tricky area. You need to protect yourself and your child in the event of disability or death. Even among young, single women who don’t have children, around a third of those surveyed are not yet interested in retirement provision because retirement is still so far away.


«I don’t have enough money to pay into my pension.»

Almost half (44%) of the women surveyed state that they don’t have enough money to save for old age. This often comes from older women who don’t have children. The same problem also exists for pillar 3: 40% of women don’t have one or don’t pay anything into one because their budget doesn’t allow it. The survey shows that income is directly linked to how she approaches saving for old age.


«My retirement provision only became relevant after I had my first child.»

For many women (43%), the birth of their first child is the pivotal moment when they start thinking about their retirement provision. More than 70% of men deal with this issue much earlier on. Women waste valuable years in which they could have invested their savings, benefited from positive returns or paid into pillar 3.


«Flexibility is a lot more important to me than good returns.»

The three most important aspects for women when choosing a savings option are flexibility when parting with money and as much security as possible. Men have different priorities: security is important to them too, but they also want to have the biggest possible returns. So while men think more about profit, women mainly want flexibility when it comes to their life situation, which is constantly changing. And they accept lower returns in exchange for this.


«My retirement provision has become more important to me since the coronavirus pandemic.»

The survey also shows that, due to the coronavirus pandemic, people have been re-thinking their retirement provision. The topic has become more important compared to the previous year for a third of women surveyed. Especially among those who are in a relationship and have children. The coronavirus pandemic has shed new light on life and work situations – demonstrated by statements such as: “it is only in times of crisis that you realise how important insurance and pensions are.”


Conclusion: start paying into your retirement provision now


The women surveyed are aware of how important retirement provision is. However, your personal environment has a big impact on the decisions you make. Many don’t make the most of their great potential at a young age and only think about their pension after their first child is born.


It is important to those surveyed to have a retirement provision that can be adapted to their individual situation. The pension product also needs to be easy to understand and straightforward.


Pensions – tailored to you

Contact Team Pensions for a personal consultation or a non-binding quote. With our experts, you are guaranteed to find the perfect solution for you. We analyse your situation and give you suitable pension options.