Why Is Retirement Planning For Women Important

The life of a woman is filled with a lot of perils and curbs stops on the way. This, more often than not, does not allow her to live the life she wants without having to witness a drastic change at some point. If she puts her career on the forefront, things such as childbirth might set her back on her career growth.

If she is a homemaker, then she might not feel the same joy of retirement that her spouse does. And because of all this, retirement planning will definitely kick in, arguably sooner than it would in the case of a man. Retirement planning is actually more important for a woman than it is for a man.

Why Isn’t Retirement Planning For Women Discussed More?

Despite all the advancement, India is still a very patriarchal country where important topics such as retirement planning for women tend to not see the light of the day.

There is also a misconception that in a family, only a working male needs to save up for a pension fund. Women, working or not, are generally not expected by society to perform the same task. Because of this, the general awareness about pension plan for women is very less, making women pass the majority of their youth without any thoughts towards retirement planning.

Even if some shreds of retirement planning have dripped in, it is only expected for the working class women. Housewives, by themselves or by others, are never expected to save up a pension plan while it is equally important and more.

Why Should Women Plan Their Retirement?

Here are a few reasons why saving up for a pension plan is necessary if you are a woman-

Shorter Work Life-

For a plenty of reasons, women in the work field have statistically shown shorter work life spans than men. Some of these reasons are obvious- the duties of motherhood might deter a woman from furthering a career. Society may not expect her to work past a certain age. Whatever may be the reason, shorter work life means less reliable income in your life time. This means whatever money you have saved up in your pension plan will have more value when your major source of income shuts down.

Homemakers Need Retirement Too-

The general notion is that a homemaker needs to perform her duties for years to come. The fact that old age might hamper a woman from perform her duties at home has still not sunk in for some people. When this homemaker’s retirement kicks in, more money might be needed to complete her duties, by hiring a maid for example. A pension plan saves up money for exactly times like these.

Women Specific Medical Problems-

Child birth is the first thing that comes to mind under this column. Of course, child birth might cripple a woman’s ability to work from anywhere between 6 months to 2-3 years. Further, as you get older, other women specific diseases, such as UTI and anaemia might find their way in, all of which cost a lot of money for treatment.

How to Save Up Money in a Pension Plan?

This column isn’t very gender specific; however it is important to remember that we have less overall income to work with in the case of women. Here are some tips for pension plans for women that might come in handy.

  1. 1.    Take Risks Early On-

This is more important for women than it is for men. There are many investments to be made in your prime, and we encourage you to take calculated risks during this time. While of course, fixed deposits and other safer investments will earn you some money, in the long run, they may become inconspicuous. Investments such as stocks and mutual funds are recommended. There is all the more reason to do it if there are 2 working members in your family.

  1. 2.    Buy Health Insurance-

Again, the medical side where a woman is concerned cannot be stressed enough. It is necessary to buy health insurance if you are a woman as future medical costs will rise sky high for you. Try to buy policies which include coverage for pregnancy.

  1. 3.    Move To Safer Investments Later On-

As you age gracefully, your pension plan will do better if you switch to safer investment opportunities such as fixed deposits or pension fund policies. There is no need to take risks at this point.


Do not let anyone stop you from having the life you’ve always wanted. Achieve all your dreams, and when you’re done, live comfortably on the retirement fund that you’ve saved up. 

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