New findings from AMP’s Retirement Confidence Pulse reveal a sharp divide in how financially confident Australians feel about life after work, with women significantly more worried and less likely to seek help than men.
Headline results released earlier this year showed only 41% of women are financially confident about retirement, compared with 59% of men. The latest findings confirm women report higher levels of worry across every measure:
- 73% of women are worried about having enough super for retirement, compared to 56% of men.
- 71% of women fear they won’t be able to afford their desired retirement lifestyle, compared to 53% of men.
- 51% of women hold back on day‑to‑day spending for fear of running out of money in retirement, compared to 42% of men.
Despite these concerns 66% of women say it’s important to leave a financial legacy for future generations, compared to 57% of men.
Knowledge and engagement gap weighs on confidence
While lower super balances, driven by pay gaps and time out of the workforce, clearly impact confidence, the research also points to lower knowledge and engagement among women:
- Only 34% of women understand or understood the concept of compounding returns before age 40, compared to 61% of men.
- 55% of women are confident in Australia’s superannuation system, compared to 71% of men.
- 26% of women have sought financial advice for retirement, compared to 34% of men.
- 30% of women don’t know who their super is with or don’t engage with their provider, compared to 23% of men.
Divorce or separation increases worry for women more than men
Across all ages, just 36% of single women feel financially confident about retirement, compared to 45% of single men. For separated or divorced women in their 40s only 21% are confident about retirement versus 50% of men in that same situation. For single women with kids in their 40s the number drops to 19%, compared to 40% for men. This shows how relationship breakdown and caring responsibilities is compounding the gender confidence divide, particularly in the 40s – the ‘sandwich generation’ age group.
Australia’s gender financial literacy gap
The findings align with a report by AMP’s Deputy Chief Economist, Diana Mousina on financial literacy citing research that shows Australia’s gender gap in financial literacy is larger than in peer countries such as the US, Germany, and the UK. The report also notes a statistically significant relationship between financial literacy and retirement savings.
Melinda Howes, AMP’s Group Executive, Superannuation and Investments, said:
“We cannot accept a future where Australian women remain more worried than men about their financial futures.
“Our research shows women are more anxious on every measure, and it’s no surprise given they retire with smaller super balances after years of pay gaps, part-time work and time out caring for others.
“Structural change is happening, from stronger pay-equity policies to reforms that help boost women’s super – but it’s not enough on its own.
“Women can take back control by engaging with their super, knowing their fund, checking their balance and investment options, and feeling confident to ask for help. These are areas where women still lag men, an unfortunate hangover from a bygone era where men typically managed the finances.
“The good news is help has never been more accessible. Many super funds, including AMP, now offer digital and phone-based financial advice at no extra cost.
“We encourage any woman who feels uncertain to start by contacting her fund, exploring the support available and building knowledge. With the right information and a few simple steps, they can take control and feel more confident.”
Diana Mousina, AMP’s Deputy Chief Economist, said:
“The retirement confidence gap we’re seeing among women is the predictable result of a long-running financial literacy gap.
“More than one in three Australian adults are financially illiterate and, worryingly, women consistently score lower than men – with Australia’s gender literacy gap larger than in many comparable countries.
“That lack of knowledge is clearly contributing to a lack financial confidence in the future.
“The encouraging part is that literacy is fixable – through better education in schools, workplace programs and the support super funds can provide.
“Every time we help a woman understand concepts like compound interest, risk and diversification, we’re giving her the tools to build wealth, independence and real confidence.
Four practical steps women can take now
Get to know your super: Log in to your account, check your balance, fees and investment option, and make sure your super is all in one place. Knowing where you stand is the first step to feeling in control.
Ask for help – early: Many super funds now offer digital financial advice and phone-based advice no additional cost. Talking to your fund or a licensed financial adviser early – especially before major decisions like career breaks or downsizing – can make a big difference over time.
Empower your future self where you can: Even small, regular extra contributions – such as salary sacrificing, super splitting with your spouse or diverting a pay rise into super – can add up significantly thanks to compounding over time. Building a plan around these contributions can help turn worry into a sense of progress.
Get a boost for your balance: Visit the ATO’s website to learn more about the range of polices in place to help you boost your super, including super paid on
Government Paid Parental Leave, Government co‑contributions,
Low Income Superannuation Tax Offsets (LISTO), spouse contribution tax offsets, spouse contribution splitting, and downsizer contributions for those 55+.
About the Retirement Confidence Pulse research:
The research is based on AMP commissioned research of 2,000 Australians by independent research company, Dynata in July 2025.