Today is #worldmenopauseday – and we’d like to highlight how the menopause can often have an affect on someone’s finances.
Menopause is a natural change in the balance of the body’s hormones that comes with age, but despite the millions of workers affected – indeed roughly 50% of the population – it can be misunderstood and misinterpreted, and a subject too often left unspoken.
It can lead to any menopausal struggles at work being attributed to poor performance rather than the clear and confirmed medical symptoms, such as hot flushes, anxiety, fatigue and mind-freeze moments that are also termed brain-fog.
The menopause mostly affects women aged 50-64 but can also affect people in their 30-40s, and some transgender men/non-binary people. Certain medical treatments such as chemotherapy and operations can also trigger menopause.
Sadly, menopause can often have a negative affect and impact on a person’s financial wellbeing and security. It can result in reduced work hours, lower paid positions, and in a recent survey 75% of those experiencing symptoms felt it affected their performance at work, while 25% of menopausal women admitted that it had led to considerations of leaving employment all together.
The menopause can also affect how much someone puts away for their pension, as some people may struggle to keep up with full-time work.
If you are worried about your pension when it comes to menopause, or anything to do with your personal finances then the best thing you can do is take guidance and advice, and plan ahead. Speak to a finance professional if needs be. If your company has an employee benefit that includes financial wellbeing and education, then we would urge you to take advantage of it.
And if you are an employer, please be aware of how the menopause may affect your employees. Help them.