FLIT.ie Empowering Women to Financial Security

Financial well-being opportunities+ and threats- for women in Ireland:

Timing	Influence	Impact
2023-2025	Irish Government Financial Literacy Policy	2023 Stakeholder audit; 2024 Report on audit & next steps; 2025 Action/ Implementation Plan
2023	International comparisons	2023 Ireland's Financial Literacy tracking aligned with OECD, facilitating international like-for-like comparisons
2023	Female financial literacy	2023 Measured at approx 6% lower than male - possibly due to lack of opportunities for formal/ informal workplace learning
2022->	Gender Pay Gap Reporting	Male vs female income; 2023 revealed 11.2% difference in hourly pay (companies>250 employees; 2024 >150; 2025>50 employees) 'What gets measured gets done': gender income gap expected to narrow
2026->	EU Pay Transparency Directive	Salary scales published on job advertisement; reporting of payscales by role; transparency on process for salary progression No longer permissable to recruit based on previous salary: Break the cycle of underpayment
2020->	Work From Home	May reduce childcare overhead, allowing both parents to remain in work
2025->	Auto-enrollment Pensions	Engage lower-paid workers in state-supported Defined Contribution pensions.
2024->	Deferred State Pension	2024 66-year olds may choose to defer state pension start age - weekly increase: €13 if start aged 67, €27 aged 68, €43 aged 69, €60 aged 70
2025	Dual pension UK & Ireland	2025 (April) Time-Extension - voluntary NI - UK workers People based in Ireland who have a work history of 3+ years in the UK may be eligible for both IE and UK state pension
	Credit Union Mortgages	Extension to traditional offerings
	Digitisation of banks	Shift from relationship- to transactional-banking: Customers struggle to get help & least financially literate are more excluded
	Digital transition	Paper -> Website -> App : see less information (small screen) at key decision points, pressure to take 'next step' before app time-out
	Reduced payment friction	1-click (or no-click) payments mean the customer has less opportunity to consider a financial committment/ purchase. Risk for vulnerable customers. 2026 PSD3 Legislation will require customers to actively manage access to their data and accounts
	BNPL Buy-now-pay-later	e.g. Klarna offered even for very short-term items, such as food deliveries, with unclear terms and penalties for late payments. Risk for vulnerable customers
	Cost-of-living increases, Fuel poverty	Pressure on those who can least afford it, then nudged into more expensive options - eg pre-pay meter electricity
	Grant/ support schemes	Grant schemes (e.g. homebuying schemes, warmer home schemes, student grants, social welfare supports, fair deal scheme) may be available at key lifestages. These schemes usually rely on the individual applying directly to them, and of being very aware of their entitlements (they are rarely applied automatically ). Good financial literacy can be demonstrated by understanding what is available and how to apply
	Female wealth	The disparity between female (82.8) and male (78.4) lifespans, and reduction in birth rate, makes some women eligible for double inheritance. Women currently control 32% of the worlds wealth,
	Relationship breakup	Economic abuse is now recognised in law in the UK, It often occurs in the context of intimate partner violence, and involves the control of a partner or ex-partner’s money and finances, as well as the things that money can buy. Without strong financial literacy, women are often not in a position to negotiate good financial outcomes.
	Fraud and Scams	Increased incidence, reach and sophistication of fraud ('breaking into' a bank account) and scams (tricking the user into performing a transaction). Victims report near-impossible to interrupt these transaction in real-time (as banks not immediately contactable), and difficult to recover afterwards

Society and technology are changing rapidly

This may equalise women's workforce participation and income over their working lives. New supports such as auto-enrolled defined-contribution pensions move control back to the individual. Supports such as grant schemes, social welfare schemes, are available at key lifestages if you are proactive in applying. Active decision-making is to protect oneself or gain the best financial outcomes.

We believe the time is right, in Ireland, for a female-dedicated financial education platform