How Can DC Plan Sponsors Bridge the Gender Gap in Retirement Confidence?

Plan sponsors should focus on boosting retirement confidence, not just knowledge, for all participants. Our latest survey shows women are significantly less confident about retirement readiness than men, despite possessing strong financial knowledge.

Women are less likely to feel prepared financially or that their savings will last. However, they correctly answered more financial literacy questions than men, indicating a confidence gap, not a capability one. This suggests communications should aim to empower participants, reinforcing women's existing savvy and providing refreshers for men.