Women Struggle to Retire as Early or as Securely as Men – Sanlam

Loading player...
GUEST – Farzana Botha - Segment Manager at Sanlam Risk and Savings

Longevity literacy is critical to help women live confidently and securely when it comes to their wind-down years. South Africa’s gender pension gap sits at 26%, reflecting the average difference in retirement income between men and women. Farzana Botha, Segment Manager at Sanlam Risk and Savings, says that often, women cannot afford to retire as early or as comfortably as men. She believes that turning this around should be a national imperative. Botha says, “A multitude of factors contribute to the gender pension gap, including the facts that women typically live about five years longer than men, but earn 82% of what their male peers make, for equivalent work. Closing this pay gap will take close to 300 years. Women must be empowered to control what they can. This includes stretching their retirement incomes for longer and preparing for higher healthcare costs.

Longevity literacy is key to this.” A recent Sanlam study shows that, like men, women hope to retire comfortably from age 65 on. “We need to reframe retirement to be more personal and less rigid and conventional. The wind-down years offer incredible opportunities to pursue new careers, travel and passion projects, spend time with loved ones, and impact one’s community in a lasting way. In fact, 33% of women view retirement as an opportunity to start a second, gentler career. That’s what we need to empower women to focus on. Then it’s about building real roadmaps to achieve the requisite financial freedom to reach these goals.
21 Aug 2023 4PM English South Africa Business News · Investing

Other recent episodes

AGOA Extended: Certainty or Illusion?

The US has extended the African Growth and Opportunity Act (AGOA) to 2028, stabilising duty‑free access for African exporters. But is this really a win, or just temporary certainty? Oxford Economic’s Jervin Naidoo explains what the extension means for South Africa’s auto industry, Kenya’s textiles, and Africa’s trade outlook in…
24 Sep 1PM 19 min

Your Retirement, Your Rules: ETFSA’s Starter Pack Explained

Retirement planning doesn’t need to be intimidating. Suzan Ramotshabi breaks down the biggest barriers stopping South Africans from investing, including Black Tax and fear of making mistakes. She explains how the Starter Pack works, additional ETFSA solutions, and the one step listeners can take today to begin their retirement journey…
23 Sep 1PM 22 min

SARB Tightens: What the 25bps Hike Means for You

The SARB surprised markets with a unanimous vote to hike rates by 25bps, landing against rising inflation expectations and global volatility. Johann Els unpacks the policy mood shift, the 4.4% inflation print, rand vulnerability, and how this decision affects credit conditions, household budgets, and South Africa’s growth outlook heading into…
23 Sep 12PM 14 min

The State of SA Insurance: Climate, Claims & Consumer Strain

South Africa’s insurers are navigating a perfect storm: higher catastrophe losses, rising claims inflation, affordability strain, and a shifting risk landscape shaped by climate volatility and crime. Santam’s Partner Solutions CEO, Gugu Mtetwa, unpacks the sector’s resilience, the worsening underinsurance problem, consumer behaviour shifts, and how insurers are adapting to…
22 Sep 1PM 24 min

Measured Momentum in SA Banking: Earnings Up, Risks Rising

South Africa’s major banks delivered headline earnings growth of 9.3% to R82.3 billion, stronger ROE at 20.5%, and improved cost‑to‑income ratios — but beneath the numbers lies a fragile domestic recovery and renewed inflation pressure. PwC’s Rivaan Roopnarain breaks down the competitive dynamics across retail, business, corporate and payments ecosystems,…
22 Sep 1PM 14 min