Abstract
Gender differences in the accumulation of pension savings in the UK and beyond are well documented. Such work has concluded that while differing lifetime work profiles (and family history) explained much of the difference, other factors may also be significant. This work, funded by the Fawcett Society in association with Scottish Widows, explores some of these factors through the use of 30 semi-structured interviews and a focus group with women (aged 24–39) about their attitudes and motivations towards pension saving. It identified various themes. These include a lack of knowledge about pension provision, exacerbated by a shortage of relatable and understandable advice in assisting with pension decisions. There was also a tendency to sequence saving, first paying down any debts accumulated at university, and then saving for housing and children, before finally beginning to focus on retirement. The interviews also elucidated a number of observations around the impact of motherhood and childcare with many participants expecting to rely on the pension of their partner in retirement. Women also often alluded to male roles in their pension making decisions, in particular, their father as a key source of advice. Whilst often taking a lead role in other household financial decisions, many women expressed the superior knowledge of their male partners around pensions. These practices may make pension provision appear to be a masculine domain. Following a discussion of these themes this poster will explore potential policy mechanisms to enhance women’s pension saving for retirement.