Last week I had the pleasure of attending an exhibition featuring the images and stories of women living with endometriosis, an invisible illness that affects around 1.5 million women in the UK.

You may be wondering what this has to do with savings and pensions, but this exhibition, featuring portraits of women by the photographer Rankin, was done in partnership with Standard Life.

Its CEO, Barry O’Dwyer, told me that the company wants to raise awareness of invisible illnesses and highlight the financial impact they can have on people’s lives; it has started by partnering with Endometriosis UK. As well as raising awareness, it is also working with the charity to become the first endometriosis friendly employer in the UK by June, and will be rolling out guidelines on best practice by September.

Endometriosis is a long-term condition where tissue, similar to those that line the womb, grows in other places such as on the ovaries, fallopian tubes, bowel and bladder. It can have a significant impact on sufferers - such as excruciating pelvic pain and infertility – with far reaching effects on all aspects of their lives, socially and professionally.

Research by Standard Life and Endometriosis UK has found that 87 per cent of women with the condition say that it has impacted their long-term financial well-being. Forty-four per cent feel they are unable to save, whilst 28 per cent have had to access their current savings because of the illness. Thirteen per cent of women with the condition have had to postpone pension contributions, whilst 11 per cent are unable to commit to a pension at all.

O’Dwyer wants the figures to serve as a “wake-up call” for those in the financial services industry - for them to realise that one in 10 women in the UK suffer from endometriosis, many of whom then struggle with their long-term financial planning.

“It’s vital that more is done to support not just these women but anyone suffering with an invisible illness. For many, planning for the future is challenging enough without the added complication of an invisible illness.”

He wants Standard Life to work with advisers and employers to identify and create plans together that will help them deliver more supportive propositions while helping vulnerable customers and employees. He adds that it’s about “getting comfortable with the uncomfortable”.

In addition, the research found that women typically lose around £41,017 in earnings while they wait an average of seven and a half years to be diagnosed with the condition. The research comes at a time when the Financial Conduct Authority (FCA) is placing increasing importance on the protection of vulnerable clients.

Increased support to help women with endometriosis and people suffering with other invisible illnesses is crucial. Nearly half (47 per cent) stated that receiving knowledgeable advice, support and understanding from a skilled financial adviser would help their financial well-being and over a third (35 per cent) believe there must be more product innovation to support inconsistent or low-income savers.

Also attending the event was Endometriosis UK CEO Emma Cox, who says that a delayed diagnosis can have “devastating effects on women's quality of life. We are delighted to be partnering with Standard Life and impressed with their determination to raise awareness and reduce diagnosis times, helping improve the lives of future generations of women.”

The exhibition will be open at Edinburgh’s Stills Centre for Photography from 1-8 April.

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