We cannot accept a future where Australian women remain more worried than men about their financial futures. But we still have plenty of work to do.
Our latest research shows clearly that women are more anxious than men on every measure, and by some way. Only 41 per cent of women feel financially confident about their retirement, compared with 59 per cent of men.
Confidence falls further for women on their own. Only 36 per cent of single women feel confident about retirement, compared with 45 per cent of single men. For women who are separated or divorced and raising children in their 40s– the “sandwich generation” juggling kids, work and ageing parents – confidence falls into the low 20s, while men in similar circumstances are roughly twice as likely to feel on track. These are women doing three jobs at once, yet feeling they’re falling behind on their own future.
None of this should come as a surprise. Women still retire with smaller super balances after years of pay gaps, part-time work and unpaid caring. These factors compound over decades: at retirement age, the average woman’s balance is about 20 per cent lower than the average man’s. But financial settings aren’t the whole story. Confidence, and ultimately retirement outcomes, are shaped by engagement and knowledge.
Australian women consistently score lower than men on financial literacy, with our gender gap wider than in countries like the US, Germany and the UK. Just 34 per cent of women understood compounding returns before age 40, compared with 61 per cent of men. Only 55 per cent of women feel confident in Australia’s super system, versus 71 per cent of men. Women are less likely to seek financial advice and more likely to not know who their super is with – or simply don’t engage at all.
There is good news. Conversations about the pay gap, parental leave super, time-out penalties and flexible work are now firmly on the national agenda. These aren’t abstract debates – they directly shape retirement outcomes decades later. Recent reforms, such as super on paid parental leave, are steps in the right direction. But policy alone won’t close the confidence gap. Individual action matters too, practical steps that fit into busy lives.
Many Australians tell us they feel more confident once they understand their super better, including knowing their balance, how it’s invested and who their fund is. Others find that talking to their fund or using the services they make freely available, such as digital financial advice, gives them a much greater sense of control. For those who can, small regular contributions can make a meaningful difference over time. These aren’t dramatic changes, but they help people feel more in control of their future.
If we lift retirement confidence for women, we lift it for the whole country. Greater security for half the population strengthens households, communities and the economy. More importantly, it ensures Australians who have contributed through work, care and community can retire with clarity, dignity and confidence.
The findings from the Retirement Confidence Pulse aren’t a sign of failure, they’re a call to action. By continuing to improve system settings, making information and help easier to access, and supporting people to take meaningful steps early, we can shift confidence levels across the board.
The savings pot is swelling – now more than $4.5 trillion. The challenge is to make sure it works for everyone – so every Australian, regardless of gender, can look to retirement with confidence that is grounded in opportunity and fairness, not uncertainty or disadvantage.
Ends.
By Melinda Howes, AMP’s Group Executive Super and Investments
First published: The Australian, 15 January 2026