Ireland’s gender pension gap - the hidden toll on women’s health and wellbeing

Irish women are heading into retirement with significantly lighter pockets than men, and the impact goes far beyond bank balances. New figures reveal that women in Ireland are still retiring with pensions worth, on average, a third less than their male counterparts. For many, that means not just reduced financial security but increased anxiety, poorer health outcomes, and a heavier burden of stress in later life.

Financial planner Leah McMahon says this is the unseen side of Ireland’s pension divide. “The gender pension gap isn’t just about money, it’s about wellbeing,” she explains. “If you’re worried about paying bills or maintaining independence in retirement, that has a direct effect on mental health.”

Career breaks for childcare, part-time work, and lower lifetime earnings all contribute to the disparity. “It comes down to time spent out of the workforce, the roles women work in, or a lack of engagement with pensions early on,” McMahon says. “These factors add up over a lifetime.”

But Leah believes change is possible if women are empowered with better financial literacy and tools to prepare early. “Planning for retirement shouldn’t be a luxury,” she says. “It’s a form of self-care.” She adds: “The sooner you start the conversation, the more options you have. And the less fear you carry with you into retirement.”

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The health impacts of financial insecurity in older age are well documented. Studies link long-term financial stress to higher rates of depression, cardiovascular problems, and even cognitive decline. For women who already live longer than men, the prospect of facing those extra years with fewer resources only sharpens the inequality.

Leah runs workshops aimed at “helping women flourish in every aspect of their lives,” with panellists including performance, hormone, nutrition, and intimacy coaches, all dedicated to helping women achieve balance and take control of their lives. "We cover all aspects of financial wellbeing, from budgeting and debt management to investing and planning for major life goals,” she says. “It’s about empowering women to make informed decisions that improve their entire financial life.”

By combining national policy change with early, informed action at an individual level, McMahon believes the gender pension gap can be narrowed. “It’s about knowledge, empowerment, and taking control of your future,” she says.

Leah's next workshop is on the 11th October, offering attendees the chance to learn strategies for financial independence and peace of mind.

You can get more information on the website Bláthú