Closing the gender wealth gap: Talking about money to children and teenagers

The theme for International Women’s Day 2025 is “For ALL women and girls: Rights. Equality. Empowerment”.

Published: 26 May 2026

To celebrate this initiative, Aviva is extending its Women Tackling Finance Hub to younger generations, specifically targeting parents. This initiative aims to empower women of all ages with essential financial knowledge and skills, fostering a future of financial independence and equality to help close the gender wealth gap in Ireland.

In a recent article published in Irish Broker Magazine, Karen Deenihan, Senior Marketing Manager at Aviva, discusses why this is important.

According to the OECD/INFE 2023 International Study of Adult Financial Literacy, approximately 55% of adults in Ireland have a basic understanding of financial concepts1. The same report shows a significant financial knowledge gap between males and females2, this contributes to the persistent gender wealth gap in the country. This gap manifests in disparities in income, career progression, pension coverage, and overall financial security for women. As an industry, we have a unique opportunity to influence and support women’s financial empowerment, starting from a young age. We can take meaningful steps to close the gender wealth gap, when we increase financial literacy among women, from toddlers to teens, and into adulthood.

Here’s why this is crucial:

Income disparities and career progression

  • Irish women continue to earn less than men across sectors. According to the Central Statistics Office (CSO), the median annual earnings for women across sectors were consistently lower than those for men in 20233.
  • In 2019, the employment rate for women was 63.7%, compared to 74.6% for men4.
  • This income disparity is further exacerbated by the underrepresentation of women in senior executive roles and on boards of directors5.

Risk of poverty

Women are more likely to be at risk of poverty compared to men. The CSO reports that the at-risk-of-poverty rate for women is higher than for men, particularly among unemployed and retired women.6,7

Educational attainment

While women in Ireland have higher rates of third-level education attainment than men, this does not always translate into financial security.8 In 2022, 50% of women were educated to third level, compared to 46% of men.9

Educating young girls and teenagers about personal finance can bridge the gap between academic achievement and financial independence.

Pensions gender gap

The “Still Stuck in the Gap” report by the National Women’s Council (NWC) examines the impact of Ireland’s proposed auto-enrolment pension scheme on gender and care inequalities. The report highlights that women in Ireland face a significant pension gap, with their average pension income being 35% lower than men’s.10

The introduction of auto-enrolment in September 2025 aims to increase pension coverage by automatically enrolling workers aged 23 to 60 earning over €20,000 annually.10 Contributions will start at 1.5% of gross salary, matched by employers, with state top-ups. However, the report warns that auto-enrolment could widen the pension gap, as:

  1. Focus on paid employment: Auto-enrolment ties pension entitlements closely to paid employment, which disadvantages women who often take career breaks for unpaid care work. This unpaid work is not accounted for in the pension scheme.
  2. Earnings threshold: The scheme only applies to those earning over €20,000 per year. Many women, particularly those in part-time or low-paid jobs, may not meet this threshold and thus be excluded from the benefits of auto-enrolment.
  3. Gender pay gap: As women generally earn less than men, their pension contributions can be lower. This existing pay gap is not addressed by the auto-enrolment scheme, potentially exacerbating the disparity in pension savings.
  4. Structural inequalities: The NWC argues that the scheme does not address broader structural inequalities, such as the legacy of the marriage bar and other forms of discrimination that have historically affected women’s financial security.10

Empowerment through knowledge

When women understand money and important financial concepts, they are better equipped to make decisions that impact their lives and families. Understanding budgeting, saving, the importance of insurance, and investing from an early age can set the foundation for a financially secure future.

In later life, this knowledge can lead to:

  • Increased labour force participation
  • Confidence to negotiate better salaries, pursue higher-paying roles, and aim for leadership positions
  • More informed decisions about insurance products, home ownership, debt management, savings, and investments
  • Earlier and consistent pension contributions critical for helping women build secure retirements
  • More confidence in managing their finances generally makes these less susceptible to financial exploitation and more resilient in the face of economic challenges
  • Women being better role models for their children, promoting financial literacy for the next generation.

Ultimately, increasing financial literacy reduces women’s vulnerability to poverty and enhances their long-term financial stability

Aviva is helping parents, their children, and teens tackle finance

We are committed to educating women about money, from the very young and to the very old, to help close the gender wealth gap. Our Women Tackling Finance Hub is already a great place to improve the financial literacy of women in adulthood. But now, we’ve expanded the hub to include content for parents to enhance their children’s financial literacy, including:

  • Educational blog posts – e.g. From toddlers to teens: age-appropriate ways to teach children about money
  • Light-hearted videos to make family conversations about money easier – kids tackle finance, teens tackle finance, and brokers tackle financial literacy.

Keep an eye on your socials to see some familiar faces tackling finance. We would like to thank all the brokers and Aviva staff who participated in this campaign.

What else is Aviva doing?

Aviva is collaborating with TASC to provide free Financial Resilience Training (FRT) to help individuals and communities in Ireland. The programme aims to build financial capability and prevent household debt. So far, it has trained 253 individuals and 102 charity staff, impacting over 16,400 beneficiaries.

For financial literacy content to share on your own channels – visit our women tackling finance hub

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Sources

1. 55% of adults reach the minimum target score of financial literacy, which is defined as scoring at least 70 out of 100 points.
2. The Financial Knowledge Score:

Male: 75.83
Female: 67.78
This indicates a significant difference of 8.05 points, showing that males have a higher financial knowledge score compared to females in Ireland. This score reflects the understanding of key financial concepts such as interest rates, inflation, and risk diversification.

3: CSO – Income
4: CSO – Work
5: CSO – Career
6: CSO – At Risk of Poverty
7: CSO – Poverty
8: CSO – Third Level Education
9: CSO – Education
10: NWC – Still Stuck in the Gap

Aviva Life & Pensions Ireland Designated Activity Company, is a private company limited by shares, registered in Ireland No. 165970. Registered office at Building 12, Cherrywood Business Park, Loughlinstown, Co. Dublin, D18 W2P5. Tel (01) 898 7950, www.aviva.ie

Aviva Life & Pensions Ireland Designated Activity Company, trading as Aviva Life & Pensions Ireland and Friends First, is regulated by the Central Bank of Ireland.