Women face greater retirement challenges, reveals Discovery data

FEWER than 10% of South Africans retire with enough money to maintain a comfortable standard of living, according to news data from Discovery Corporate and Employee Benefits.

- DIEKETSENG MALEKE

According to Discovery, this figure has long raised alarm among financial experts and policymakers.

However, new data paints an even starker picture for women, who retire with 21% less in savings than their male counterparts.

This disparity was revealed in a July 2025 analysts conducted by Discovery Corporate and Employee Benefits, which examined contribution behaviour, income levels, fund selection, and family dynamics across its umbrella retirement funds.

Nonku Pitje, CEO of Discovery Corporate and Employee Benefits, says that with August being National Women’s Month in South Africa, they took a deep dive into the retirement data across its umbrella funds.

“Our analysis shows that women are definitely saving and actively contributing towards their retirement. Yet, the system still works against them.

“While lower pay contributes to the gender retirement gap, the issue is far more complex. Women face a lifetime of unequal financial pressures, and retirement systems often fail to reflect their lived experiences. These systemic shortcomings widen the gap, leaving many women financially vulnerable in retirement.”

The findings point to several factors that compound the retirement gap for South African women:

Women have 21% less in pension and provident savings than men.