Women approaching retirement are more likely than men to consider using guided retirement options offered by their pension provider, despite being less likely to have received financial advice, research from Boring Money has revealed.

The findings showed that 37 per cent of women were likely to use a guided retirement solution, compared with 22 per cent of men.

The research also highlighted a gender gap in access to retirement planning support, with women around half as likely as men to have paid for one-off financial advice, at 6 per cent compared with 11 per cent.

Meanwhile, 16 per cent of women had received ongoing financial advice, compared with 20 per cent of men, while more than a third (34 per cent) of women had received no help with retirement planning, compared with 29 per cent of men.

Boring Money suggested the findings highlighted an opportunity for pension providers to offer women greater support through guided retirement, targeted support, and emerging digital tools.

The research also revealed a significant disparity in retirement savings: the average defined contribution (DC) workplace pension pot for women aged 50 and over who had not yet retired was £65,000, compared with £120,000 for men.

Against this backdrop, Boring Money argued that better retirement support could particularly benefit women, who have traditionally been less likely to access regulated financial advice.

The findings come amid ongoing reforms to retirement support, with the Pension Schemes Act 2026 requiring workplace pension schemes to offer guided retirement solutions from 2029.

In addition, the Financial Conduct Authority's (FCA) targeted support regime, which took effect in April 2026, allows authorised firms to offer suggestions to groups of consumers with similar characteristics and financial support needs.

Boring Money noted that these developments, alongside emerging AI-powered tools, could help bridge the gap between generic guidance and personalised financial advice.

Commenting on the findings, Boring Money CEO, Holly Mackay, 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."

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