Five out of six — that's how many women are not saving enough for retirement.

According to research from management consultant Aon Hewitt, women may be participating at an equal rate with men in 401(k) plans, but they're ahead of men in failing to save enough to retire.

While 74 percent of men aren't saving enough to meet their needs in retirement, 83 percent of women are behind the 8-ball when it comes to saving. Aon Hewitt projects that women will need 11.5 times their final pay to meet their needs in retirement, while men only need to replace 10.6 times their pay.

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But, according to Aon Hewitt, there is a gap of 3.3 times pay between what women need and what they're actually on track to have saved in order to retire at age 65. For men, the difference between needs and resources is just 2.0 times pay.

So the numbers indicate that women will have to work till age 69 to meet 100 percent of their needs in retirement — a whole year longer than men will.

Why is the situation so dire for women?

Several reasons, including longer lifespans, lower salaries and a greater likelihood of taking hardship withdrawals from their 401(k)s.

Then there's the fact that women can expect to pay more than men for health care expenses during retirement — and may spend much of their retirement disabled, which can come with a host of other costs in addition to health care.

According to the Aon Hewitt report, while 79 percent of both men and women are participating in 401(k) plans, women are only contributing 7.5 percent of their salary; men, on the other hand, are saving 8.7 percent of their (higher) salaries.

Combining those lower savings rates with salary disparities means that women's 401(k) balances are lower; in 2015, women had an average plan balance of $71,060, compared to $119,150 for men.

Among methods to improve employee outcomes, Aon Hewitt suggested plan features that boost savings rates, such as auto-enrollment at higher savings rates, such as 6 percent, and auto-escalation of contributions; tools that improve employees' overall financial well-being; and professional investment help.

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