CFA Society Cyprus member Dr. Stella Mourouzidou – Damtsa, CFA,  states that financial literacy, the ability to understand and manage personal finances, is essential for economic well-being and stability. Despite initiatives to improve financial education, Cyprus remains one of the EU countries with the lowest financial knowledge, according to the 2023 Eurobarometer survey. This lack of financial literacy amplifies gender disparities in pensions, with women receiving significantly lower pensions than men.

Factors contributing to this gap include career breaks for childcare, part-time employment, and lower lifetime earnings for women. Improving financial literacy could help mitigate these disparities by enabling better financial decision-making and savings strategies among women.

Every woman, regardless of age or life stage, should recognise the importance of financial planning and take action today.

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