Oletilwe Ramashala, Head of Business Development and Strategic Partnerships at Sanlam Corporate

As South Africa celebrates Women’s Month in August, new research from Sanlam Corporate reveals a sobering reality: only 8% of female retirement fund members feel very confident that they will be able to retire comfortably.

According to the Sanlam Benchmark 2025 Consumer Study, nearly half (46%) of women believe they will never have enough saved to retire, while just 33% feel financially secure about their future – compared to 51% of men.

“This is not just a research finding; it’s a quiet crisis,” says Oletilwe Ramashala, Head of Business Development and Strategic Partnerships at Sanlam Corporate. “It reflects a deep and persistent anxiety that many women live with every day – and it’s driven by structural, economic and social inequalities that women did not create.”

The drivers behind the gap

Sanlam’s research identifies several key reasons why women continue to fall behind in retirement savings:

• Interrupted careers due to maternity leave and caregiving responsibilities
• Lower lifetime earnings, driven by persistent gender pay gaps
• Overrepresentation in part-time or informal work, often with limited benefits
• Prioritisation of family needs over personal financial goals
• Limited access to financial advice, due to time constraints or lack of confidence

“These are deeply human, compassionate choices – women stepping up for their families and communities,” says Ramashala. “But they often come at a long-term cost to financial security.”

Empowering action through partnership

Ramashala believes it’s time for a shift – from awareness to action and agency. “We must empower women to start saving earlier, engage with advice confidently, and make small but consistent decisions that protect their future selves. The tools are there. What we need now is support and partnership.”

Sanlam Corporate is calling on employers, trustees and policymakers to double down on their commitment to women’s financial wellbeing. The business offers a holistic suite of services including:

• Flexible, well-governed Umbrella Fund solutions
• Group risk cover to protect families from unforeseen events
• Health care solutions that support mental and physical wellbeing
• Personalised, data-driven engagement tools like the Age of Confidence calculator and behavioural nudges to drive action

“We must move beyond viewing retirement as a technical conversation. It’s a human one – about dignity, freedom and choice. Empowering women to take meaningful steps for their retirement early and with a long-term vision, will give them greater confidence to retire comfortably,” says Ramashala.

A women’s month call to action

“To every woman reading this: your future is worth investing in,” Ramashala says. “You deserve a retirement marked by peace of mind, not worry. It’s never too early or too late to begin.”

“To employers and trustees – the women in your workforce are not just employees. They’re community pillars, caregivers, and leaders. When women retire well, society rises with them.”

Sanlam Corporate is committed to walking this journey with South African women – and closing the gender retirement gap, together.

ENDS