Retirement confidence suffers from ‘sharp’ gender gap: AMP

Yasmine Raso

Senior Journalist, Financial Newswire

16 January 2026

AMP has released some new takeaways from research commissioned in mid-2025, confirming a “sharp” gender gap remains in retirement confidence underpinned by women’s lower super balances and levels of financial literacy.

The Retirement Confidence Pulse findings, based on a survey of 2,000 Australians, indicated that 41 per cent of women were financially confident compared to 59 per cent of men, 73 per cent of women were concerned about having enough super to fund their retirement compared to 56 per cent of men, and 71 per cent of women are worried they won’t be able to afford their ‘desired lifestyle’ in retirement compared to 53 per cent of men.

A further 51 per cent of women said they limit their day-to-day spending to avoid running out of money in retirement, compared to 42 per cent of men.

While the research connected women’s low levels of retirement confidence to their lower super balances – as a result of the gender pay gap and unpaid super during time taken out of the workforce to care for children or others – it also found there was a significant gender divide among financial knowledge, literacy and engagement with super.

Approximately 34 per cent of the women surveyed said they understand or understood how compounding returns work before the age of 40, compared to 61 per cent of men; 55 per cent of women said they were confident in the Australian superannuation system, compared to 71 per cent of men; 26 per cent of women have engaged with financial advice for retirement, compared to 34 per cent of men; and 30 per cent of women don’t know who their super is with or don’t engage with their fund, compared to 23 per cent of men.

“We cannot accept a future where Australian women remain more worried than men about their financial futures,” Melinda Howes, AMP’s Group Executive, Superannuation and Investments, said.

“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.”

When considering relationship status, only 36 per cent of single women felt confident about retirement compared to 45 per cent of single men. This figure worsened when it came to separated or divorced women in their 40s (21 per cent compared to 50 per cent of men in the same situation) and single women with kids in their 40s (19 per cent compared to 40 per cent of men).

AMP’s Deputy Chief Economist, Diana Mousina, said the Australian gender gap in financial literacy is in worse shape than our global counterparts including the US, Germany and the UK.

“The retirement confidence gap we’re seeing among women is the predictable result of a longrunning financial literacy gap,” she said.

“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.”