Menopause and its financial impact on women

If there was something that could derail the financial plans of half of your clients, would you do something about it?

MetLife research discovered that 76% of women might delay their retirement due to the financial impacts of menopause.¹

To help address the challenges faced by women impacted by this phase of life, we have introduced Menopause Support, a 360Health program designed to support women to manage their perimenopause and menopause symptoms with personalised, one-on-one support from women’s health nurses. This service allows women to access reliable information and compassionate support, helping them stay healthy, happy, and productive – both at work and in their personal lives.

By understanding and addressing the challenges menopause brings, you can help provide your clients with access to resources that may make a big difference in assisting them to protect their financial future and ensure their retirement planning stays on track.

Health impact of menopause

“Menopause is not an illness, and neither is it a medical condition: it is a normal component of the female life cycle; however, it is a women’s health issue with social and economic consequences.” ²

Currently in Australia around 160,000 women enter menopause each year, with the majority of women between the ages of 45 to 54 years^.3

Menopause is associated with an increase in health risk factors and some chronic conditions including cholesterol, high blood pressure, overweight and obesity, coronary heart disease, diabetes, osteoporosis, dementia & cancer.⁴

Financial impact of menopause

The 2024 Senate inquiry into menopause and perimenopause, stated that for some women, managing menopause can mean extended periods of time on reduced working hours, extended breaks from the workforce, reduced superannuation contributions and balances, early retirement from the workforce, enhanced financial reliance on partners or family members, and the additional financial burden of accessing menopause hormonal therapy (MHT).⁵  This can have a significant, detrimental impact on retirement incomes for affected women.⁶

Of the 120,000 Australian women who start menopause each year, approximately 20,000 (12.5%) will at some point switch from full-time to part-time work, around 10,000  (6.25%) will leave the workforce (to return later), and around 4,000 (2.5%) will retire early.⁷

AIST (now Super Members Council of Australia) research discovered that severe menopausal symptoms may adversely impact women’s decision making around early retirement.  Menopause could currently be costing Australian women a collective loss of $15.2 billion in foregone income and superannuation for every year of early retirement.  Over an average 7.4 years of missed earnings opportunity, this amounts to an economic loss to Australia of $112.2 billion.⁸

ASFA forecasts that a woman who is 51 (on average wage for age), and who shifts from full-time to part-time work (3 days per week) for a period of four years, would have around $25,000 less superannuation at retirement (assumed retirement age of 67).⁹   A woman who is 51 (on average wage for age), and who leaves the workforce for a period of two years, would have around $30,000 less superannuation at retirement (assumed retirement age of 67).¹⁰ Premature retirement of around 5 years (for a woman on average wages for age) would mean lower superannuation at retirement in the order of $60,000 (assumed retirement age of 67).¹¹

Financial assistance and wellbeing assistance for your clients

Life insurance, in particular Income Cover, and in some cases TPD Cover, may be able to financially support women who are unable to work due to some of the health conditions associated with menopause.

Life insurance could act as a financial safety net, enabling women who experience severe menopause symptoms to reduce the income gap and superannuation savings gap.

MetLife’s award-winning health and wellbeing program, 360Health, has been expanded to include Menopause Support to help women better navigate their options, identify symptoms, and discover how to access appropriate medical advice.  This service complements our existing 360Health services, such as Nutrition Consultations and Mental Health Assist.

MetLife 360Health services are available at no extra cost to all MetLife customers and their families^14,15.

For more information, please visit MetLife 360Health or contact your local MetLife BDM.

Reference

1. Impacts of Menopause on Women’s Health and Wealth: MetLife’s Study on the Impacts of Menopause - Summary Report – 2024. https://www.metlife.com.au/campaigns/menopause/
2. Affiliation of Australian Women’s Action Alliances, Submission 31, p. 10 -“Inquiry into the Issues related to menopause and perimenopause” – Parliament of Australia – September  2024 - https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Community_Affairs/Menopause
3. Australian Menopause Society – Fact Sheets; https://www.menopause.org.au/health-info/fact-sheets
4. Nappi R and Simonici T (2021) 'Menopause transition: a golden age to prevent cardiovascular disease', The Lancet Diabetes & Endocrinology, 9(3):135-137, https://doi.org/10.1016/S2213-8587(21)00018-8; Lancet (2022) 'Menopause: a turning point for women's health, Editorial', The Lancet Diabetes & Endocrinology, 10(6):373, https://doi.org/10.1016/S2213-8587(22)00142-5.
5. “Inquiry into the Issues related to menopause and perimenopause” – Parliament of Australia – September  2024 - https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Community_Affairs/Menopause
6. ASFA – Research Paper – Impact of Menopause on Retirement Outcomes – March 2024
7. ASFA – Research Paper – Impact of Menopause on Retirement Outcomes – March 2024
8. The Australian Institute of Superannuation Trustees – Measuring what matters: Understanding our economy and society while informing policy making – AIST Submission to Treasury.
9. ASFA – Research Paper – Impact of Menopause on Retirement Outcomes – March 2024
10. ASFA – Research Paper – Impact of Menopause on Retirement Outcomes – March 2024
11. ASFA – Research Paper – Impact of Menopause on Retirement Outcomes – March 2024
12. The term ‘family’ consists of your children, partner, parents and parents’ in-law.
13. 360Health Recovery Support services are only available to MetLife policyholders.

© MetLife Insurance Limited (MetLife) 2025. While care has been taken in preparing this material, MetLife does not warrant or represent that the information, opinions or conclusions contained in this information are accurate. The information provided is general information only is current as at the time of production. It has been prepared without taking into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. It is not intended to be a substitute for professional advice and should not be relied upon as such.  MetLife recommends that you obtain independent and specific advice from appropriate professionals before implementing a financial strategy, including reading any relevant product disclosure statements and/or terms and conditions.

This website contains general information only, which does not take into account your personal financial situation, objectives or needs. Before deciding whether to acquire, or continuing to hold, any of our products, please seek appropriate independent financial advice to assess whether it is suitable for you. You should also consider the relevant Product Disclosure Statement, available upon request by calling 1300 555 625, before making any decision. Life insurance products are issued by MetLife Insurance Limited ABN 75 004 274 882, AFSL 238096.

By accessing this website you agree to comply with MetLife's Legal Notices