Women more likely than men to embrace guided retirement

New Boring Money research finds women are far more open to help from their pension provider, despite being less likely than men to have received any support with retirement planning.

Women approaching retirement are far more open than men to getting help from their pension provider, according to Boring Money’s Pension Report 2026, The Retirement Crossroads. Asked about a guided retirement option, where their provider offers a ready-made way to turn their pension into an income, 37% of women said they would be likely to use it, compared with just 22% of men.

Key findings

• Open to provider help: 37% of women say they would be likely to use their provider’s guided retirement option, compared with 22% of men.

• Less likely to get advice: women are around half as likely as men to have paid for one-off advice (6% vs 11%), less likely to use ongoing advice (16% vs 20%), and more likely to have had no help at all with retirement planning (34% vs 29%).

• Facing it with less: the average defined contribution (DC) workplace pension for a pre-retired woman aged 50+ is worth £65,000, compared with £120,000 for a man.

An advice gap that providers could fill

Women are less likely than men to pay for financial advice, but they aren’t turning down help and are more open to guidance from their own provider. The findings suggest that improvements in DIY retirement services, including guided retirement options, Targeted Support and emerging AI-powered tools, could help reach women who have traditionally missed out on financial advice.

Help is on its way

Under the Pension Schemes Act 2026, DC workplace schemes will have to offer ready-made retirement income options from 2029. The FCA’s Targeted Support regime went live in April 2026. Boring Money’s research suggests women stand to benefit most from both.

Holly Mackay, CEO at Boring Money, said: “Women have traditionally been left behind when it comes to financial advice, but our research suggests that better DIY services, including guided retirement options, could help change that.

“Guided retirement alone won’t be a silver bullet, but as part of a broader range of support – including emerging AI-powered solutions and Targeted Support – there are encouraging signs that better services for those who haven’t traditionally received financial advice could help more women improve their retirement outcomes.”

Notes 

Boring Money Insights is an independent financial and investment research, data and publishing business.

Pension Report 2026: The Retirement Crossroads draws on four sources:

• a survey of 2,025 UK pension savers aged 50+, both approaching and in retirement (September 2026);

• a nationally representative survey of 3,193 UK adults aged 50+ (January 2026);

• a survey of 452 Boring Money Research Panellists (September 2026);

• eight qualitative interviews with DC pension savers within five years of retirement