Key Takeaways

This guide is brought to you by Sanlam to help women understand why their retirement plan may need to stretch further than a man's, and what questions to ask when reviewing retirement savings.

Why Does Longevity Matter for Women's Retirement Planning?

Longevity simply means how long people are likely to live. Statistics South Africa's Mid-year population estimates 2026 reported life expectancy at birth of 71,0 years for women and 65,5 years for men, a difference of about 5,5 years.

Life expectancy at birth is a population average, not a personal forecast. Still, the pattern matters for planning.

According to the Sanlam Corporate Benchmark Study, reported on by FANews, 46% of women surveyed felt they would never save enough to retire, and only 8% of female fund members feel very confident about a comfortable retirement. This gender gap is often the linked to structural pay disparities, career breaks for caregiving, and higher rates of early fund withdrawals.

If a woman retires at the same age as a man but lives longer, her savings may need to pay an income for more years. This is worth including when you review your financial planning for retirement.

What Could a Longer Retirement Mean in Practice?

A retirement plan needs to balance two things: having enough income to live on now and not drawing down capital so quickly that it runs low later. Inflation adds to this, because an amount that feels comfortable at 65 may buy noticeably less at 85.

For illustration: Lerato and Sam both retire at 65 with similar savings. If Lerato's income needs to last 25 years and Sam's 20 years, Lerato has five extra years of housing, food, transport and medical costs to fund from the same pot.

The table below sets out factors long-term planners may want to weigh up.

Risk warning: Investment values can go up and down, and returns are not guaranteed. A plan built on optimistic assumptions about returns, or on a retirement that is shorter than it turns out to be, could leave less income available in later years.

How Do You Structure Savings So They Last Longer?

There is no single answer, but a few general principles are often discussed:

These are general concepts, not recommendations. Which combination suits you depends on your circumstances. Speaking to a licensed financial adviser can help answer your questions and guide you through decision-making.

How Can You Check Your Own Retirement Age?

You may want to start with four numbers: what you have saved, what you contribute monthly, the age you plan to retire, and the monthly income you may need afterwards. An employer fund benefit statement is a useful place to find some of these.

A retirement calculator can help you explore different scenarios. For example, you can explore an estimate of the age at which you may be able to retire comfortably using the information you enter. Changing one input at a time – such as your contribution amount, retirement age or expected income – can show how sensitive the estimate may be to each assumption.

The result is an estimate only. Investment returns, inflation, fees, career changes and future spending are all uncertain.

What Are the Trade-offs to Consider?

Increasing retirement contributions may leave less room in a monthly budget for other goals or for paying down expensive debt. Retiring later can give savings more time to grow, but it may not be possible for everyone because of health, work or family circumstances.

Keeping savings invested for growth can help over long periods, but values can fall as well as rise. Withdrawing money when changing jobs may meet an immediate need, but it can set back long-term savings progress. Weighing these trade-offs with a licensed financial adviser can help before deciding.

Practical next steps

This is for general information and education purposes only and does not constitute financial advice. For personal recommendations, speak to a licensed financial adviser.