Better menopause support can help women stay on track

Menopause can affect work during some of the most important pension-building years, when many women would otherwise expect their earnings and pension contributions to be at or near their peak. Earnings tend to peak among those aged 45-54, and around two-thirds (67%) women in this age group are experiencing perimenopause or menopause. Among those managing symptoms, around half (50%) say their working life was affected to a moderate or very large extent.

The effects can range from short-term changes to longer-term consequences for earnings and progression. Among women managing menopause symptoms, one in 10 (10%) turned down an opportunity for promotion or progression, while a similar proportion (9%) moved to a more flexible or lower-paid role. Less than one in five (17%) took time away from work, and 13% reduced their hours.

These changes can feed through into both current finances and retirement saving. Around three in 10 (29%) women managing menopause symptoms report a negative effect on their retirement savings. Similar proportions report negative effects on their day-to-day finances (30%) and longer-term savings (30%).

For some women, the interruption lasts well beyond a short absence. Among those who took time away or left work because of menopause symptoms, more than one in five (21%) were away for at least one year, and around one in 11 (9%) spent five years or more out of paid work. Overall, around one in 20 (6%) women experiencing menopause left work or retired earlier than planned.

Workplace support can help women remain in work and protect their earnings and pension saving during menopause. However, half (50%) of women managing symptoms said none of the forms of support listed were available at work. Around one in five (21%) had practical support, while 4% could receive financial assistance. There is broad support for stronger employer action: around two-thirds (66%) of women think the law should provide better employer support, including financial support, for people affected by menopause.

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