The gender pensions gap is one of the most persistent inequalities in the UK financial landscape—and it’s not closing fast enough. While we’ve seen progress in areas like auto-enrolment and workplace pensions, recent data paints a troubling picture: women not only retire with significantly less pension wealth than men, but also feel far less confident about managing it.
For financial advisers, this represents both a challenge and an opportunity.
Confidence in retirement planning is not equally shared. Research shows that just 33% of women feel confident about investing, compared to more than half (54%) of men.
Another survey revealed that only 12% of women feel “very confident” their pension contributions will sustain them through retirement—compared with 21% of men. Almost half of women (48%) admitted to feeling not confident at all.
Meanwhile, 69% of women say they have limited understanding of pensions and investments, versus 43% of men—a disparity linked to lower levels of financial education, particularly among older women.
The wealth gap behind the numbers
The Department for Work and Pensions (DWP) reports that women aged 55–59 hold median private pension wealth of £81,000, compared with £156,000 for men—a 48% gap. To estimate an illustrative income, an annuity rate for a 60-year old of around 7% has been used to convert the pension pot into an annual income. This would be around £6,000 per year for women (over £100 a week) and around £11,000 for men (over £200 a week), a gap of around £5,000 per year.
MoneyWeek highlighted that 73% of savers plan to rely on a partner’s pension, but with such disparities in pension pots, this reliance risks leaving women particularly vulnerable in the event of a sudden death or relationship breakdown.
Meanwhile, a different study has found that the contributions gap is narrowing in some age groups, but worryingly, it has widened for women aged 30–45 by around 3%. By the time women reach 60, their average pension pots are still 43% smaller than those of men.
Advisers are uniquely placed to change the narrative. The figures show women often:
- Take more career breaks.
- Work part-time, falling below contribution thresholds.
- Feel less confident about investing.
- But each of these barriers can be addressed through:
- Proactive engagement with younger women.
- Bridging gaps during career breaks.
- Boosting financial confidence through education.
- Partnered planning that stresses financial independence.
But each of these barriers can be addressed through:
- Proactive engagement with younger women.
- Bridging gaps during career breaks.
- Boosting financial confidence through education.
- Partnered planning that stresses financial independence.
At iPensions Group, we believe that modern pension provision must evolve to reflect today’s diverse working lives. Advisers are central to this mission. By combining education, engagement, and empathy, advisers can help ensure that women don’t just save for retirement, but do so with clarity, confidence, and control.
Disclaimer
The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought (as well as legal advice where required) in both the UK and any jurisdiction where you are resident.
iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.
Millennials and Gen Z are often called the “missing link” in pensions engagement. Many advisers find these demographics hard to reach—focused more on today than retirement decades away.
However, the numbers tell a more hopeful story. A recent study shows that 33% of Gen Z investors start investing before adulthood, and 64% review their portfolios monthly. Younger generations aren’t disengaged—they’re just digitally native and values-driven.
That means traditional pension communications may fall flat. Jargon-heavy PDFs and static statements won’t cut through. Instead, advisers need to reframe retirement as an accessible, personal, and ethical long-term goal.
Start with digital-first tools:
Meet them where they are on apps & social
– Mobile-first dashboards, gamified saving trackers, and scenario tools are key
– Consider partnering with “finfluencers”—but keep advice regulated and risk disclosures front and centre
Behavioural science in practice
– Use simple, actionable default options
– Trigger nudges aligned with life events (promotion, buying house, having children)
– Visual tools showing progress toward goals improve stickiness
Content that resonates with these generations
– Short, snackable explainers
– Infographics to visually spell out content
– Webinars/Q&As addressing common concerns
Values also matter. 86% of Gen Z and 73% of Millennials would choose lower returns if it meant their pension avoided unethical investments. So, highlight ESG options and help younger clients align their pensions with their principles. As the environmental factors are at the forefront of young people looking to their future, so should be their pensions and caring for the next generation in a sustainable way.
The result? Deeper engagement, earlier contributions, and lifelong client relationships.
Helping the next generation build financial resilience isn’t just a business opportunity—it’s a societal imperative. Advisers who adapt now will be best positioned to guide tomorrow’s retirees.
At iPensions Group, we’ve seen first-hand how younger clients are shaping expectations across the market. Our flexible SIPP solutions, intuitive online portals, and commitment to transparency are all designed to meet the evolving needs of this growing audience. Our strategy is driven by technology-enabled products and solutions as we continue to deliver innovation in the SIPP market. This agile approach to an “old fashioned” market is one that will only bring easier engagement and long-term benefits to advisers and pension providers.
Disclaimer
The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought (as well as legal advice where required) in both the UK and any jurisdiction where you are resident.
iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.
The pensions industry stands on the brink of a technological transformation. Artificial Intelligence (AI) is beginning to reshape how schemes operate, engage members, and manage investments. At iPensions Group, we believe that while AI offers exciting opportunities, its adoption must be handled with care, responsibility, and a commitment to safeguarding members’ futures.
Unlocking the Benefits of AI in Pensions
From streamlining administration to personalising member experiences, AI has the potential to significantly enhance the delivery and management of pension services. Recent insights from the Pensions and Lifetime Savings Association (PLSA) reveal that AI is already improving key areas, including:
Personalised communications and retirement planning tools, helping members make more informed decisions.
Fraud detection and cyber protection, increasing the resilience of pension systems.
Automated administrative tasks, reducing costs and freeing up human resources.
Support for trustees, such as summarising meeting papers or offering data-driven insights.
These innovations are not theoretical. They’re already being piloted or deployed across various schemes across the sector, with many experts forecasting that AI will become a standard component of pension fund management by 2035.
Managing the Risks: A Cautious Path Forward
Despite its promise, AI introduces real challenges. Pension schemes must be mindful of data governance, cyber risk, regulatory compliance, and ethical concerns.
Unlike some other financial sectors, the pensions industry bears a long-term fiduciary duty. That responsibility requires that all technology – no matter how advanced – must be adopted within a strong governance framework. At iPensions Group, we support the view that AI should augment, not replace, human decision-making. Trustees and administrators must remain accountable and engaged in the processes that impact members’ retirement outcomes.
Moreover, with data playing a central role in AI systems, safeguarding personal information is non-negotiable. Cybersecurity must be a foundational consideration, not an afterthought.
A Regulatory Watchdog on Alert
The UK Treasury Committee’s recent inquiry into the use of AI in financial services, including pensions, underscores both the opportunities and the scrutiny the technology invites. Lawmakers are rightly asking questions about transparency, accountability, and consumer protection. As regulation evolves, it’s essential that all industry stakeholders work collaboratively to ensure AI benefits members without introducing new risks.
Our Commitment at iPensions Group
At iPensions Group, we are actively exploring how AI can be used to enhance the way we serve advisers, trustees, and members. Whether it’s harnessing intelligent tools to simplify processes or exploring data insights to improve engagement, our focus is clear: innovation with integrity.
Our CTO Hrishi Kulkani shared his thoughts on the use and integration of AI into the pensions sector: “Artificial Intelligence is not a silver bullet, but when used responsibly, it can be a powerful tool to enhance member outcomes and operational resilience. At iPensions Group, we’re exploring AI with a clear focus: to support human decision-making, strengthen governance, and deliver meaningful efficiencies — without ever compromising the trust our members place in us.”
We are committed to staying at the forefront of AI developments – but always with our eyes on the core values that define responsible pensions management: security, transparency, and long-term trust.
Disclaimer
The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought (as well as legal advice where required) in both the UK and any jurisdiction where you are resident.
iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.
We are delighted to announce the acquisition of the legacy specialist SIPP and SSAS Business from Morningstar Wealth Retirement Services.
A specialist pension provider and administrator, iPensions Group, have acquired a portfolio of SIPP and SSAS business from Morningstar Wealth Retirement Services Ltd, acquiring the associated trust company and taking over as the operator and administrator.
The acquisition builds on iPensions Group’s growth strategy driven by technology-enabled solutions combined with deep technical knowledge and administrative excellence.
The SIPP and SSAS business to be transferred to iPensions Group is a legacy off platform book and features a broad range of invested assets including the interests of the schemes’ members in property. iPensions Group has a well-established specialist team dedicated to servicing clients’ property holdings within their portfolio
This latest acquisition builds on iPensions Group’s growth strategy to focus on opportunities to acquire SIPP and SSAS pension businesses that will benefit from our administrative excellence and technical expertise and follows the acquisition of the Edinburgh-based SIPP provider, Forthplus.
Group Chief Executive Officer, Sandra Robertson commented: “This latest acquisition exemplifies our focus on identifying and transferring books of business where schemes and their members will benefit from our deep technical expertise and commitment to administrative and technological excellence supported by the highest standards of personal service.”
We look forward to supporting Morningstar’s members and their diversified pensions assets which includes a focus on property that requires the specific pensions technical expertise we can offer.
Disclaimer
The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought (as well as legal advice where required) in both the UK and any jurisdiction where you are resident.
iPensions Group Limited is authorised and regulated by the Financial Conduct Authority, Licence Number 464521.
