International Women’s Day
International Women’s Day is celebrated globally on March 8 each year. It celebrates the social, economic, cultural and political achievements of women and also marks a call to action for accelerating gender equality.
It has been observed since the early 1900s and is now recognised each year. It is not affiliated with any one group but brings together governments, women's organisations, corporations and charities. The day is marked around the world with arts performances, talks, rallies, networking events, conferences and marches.
To celebrate the event this year, the soap opera Emmerdale is airing an episode in which the female characters take centre stage that has also been written, produced and directed by a female-led crew.
Pensions are an area with a significant gender divide. A report published last year by the Chartered Insurance Institute (CII) found that women are retiring with pension pots significantly smaller than their male counterparts. Women aged 65 had an average pension pot of £35,000, just 25% of the size of the average man’s pension pot at the same age. Sian Fisher, chief executive of the CII, commented: “Women’s lives and freedoms have changed for the better, yet society’s expectations of women have not. The serious financial disadvantage women face in old age cannot be attributed to any one factor but is a combination of societal, health and financial factors stacked against them. Women are living longer, however, care costs them more at the end of their lives. Women are succeeding in the workplace and the gender pay gap is hopefully closing but caring for family, even for just a few short years, significantly impacts a woman at retirement. It is the culmination of all these factors that are potentially driving women towards poverty in old age.”
If you would like to talk to one of our pension specialists, we offer guidance through our helpline on 0800 011 3797, webchat and online enquiries. We also have a suite of Spotlights that shine a light on pension issues and give information in a way that most people can understand and can be accessed on our Spotlight page. If you want to better understand your pension, talk to TPAS.