Women's Life Stages & Finances - The Menopause

Every?Stage?of a Woman's Life, Impacts?Her Financial Situation.

How Well-prepared?Are You For This?

Menopause?is one of the life stages that has a big impact on a woman's?financial, psychological, and physical health.

Knowing what your?employer?has in place to?support?you during this time can bring some?relief?in an already stressful stage of life.

What is the menopause policy?

A workplace?menopause policy describes how an?organisation?will?treat?female, trans, and non-binary employees who are experiencing?menopausal symptoms?and the?support?these individuals can expect to receive.

Why is it crucial for all working women to understand the menopause policy?

Menopause is a natural phenomenon that must occur in?every woman's life, this stage of a woman’s life comes with its?challenges?and?complications?which can most times?negatively?affect her health and productivity.

Which negative financial impact might menopause-related issues have on women?

Fact 1

According to a report posted on?peoplemanagement.co.uk?on May 5, 2022, Fawsett Society research revealed that among women between the?ages of 45 and 55, 10% have left their jobs due to menopause related issues.

Fact 2

Despite the fact that menopause is one of the major life stages that has a significant impact on a?woman's income, the majority of workplaces still?do not offer any support?for menopause employees. placing them in a?vulnerable?position.

Fact 3

50%?of women don't know if their?employers?or?health insurance?plans cover menopause related issues. Which might have a significant?financial impact?if a woman chose to?leave her job?or seek?alternative therapy?that wasn't covered by insurance.?

Fact 4

A lack of preparation

Like most major life events such as?retirement,?preparation?is key!

From an?early age?a woman needs to?understand?the repercussions that come with menopause and make both psychological and financial?preparations.

What support is available?

In a bid to?protect?the rights of women, certain?legislations?have been put in place in the UK, whose provisions?ensure?that no woman is?prejudiced?as a result of gender or?gender related issues.?

In November 2021 the UK government published its response to workplace menopause consultation.

The report stated that the support of the UK government was crucial in ensuring that?workplaces offer assistance?to people going through?menopause.

Ten specific recommendations were included in the report. One of them called for a change to the Equality Act of 2010 to give?menopausal women more protection.

Some of these legislations are:

• Health and Safety Work Act 1974
• Equality Act 2010
• Workplace (Health, Safety and Welfare) Regulations 1992

In Switzerland no such legislation exists!

Compared to other western nations?we are still far behind?when it comes to?economic?protection?of women.

How to prepare for menopause in a legal and financially responsible manner

• ?Check?to see if your employer has a?menopausal policy?in place.
• Review the menopause policy for assistance options, and where possible,?negotiate better terms.
• A health insurance policy will also ensure access to affordable care and health information, however make sure you?evaluate your insurance plan?to see if the offer covers your needs in this specific stage of life.
• Create an?emergency savings fund?( Fea Money Personalised Acc )?in the event that you will need to miss time at work or?incur extra costs?due to alternative therapy treatments.
• Prepare yourself psychologically, remember menopause is quite normal, and when you are?financially and psychologically?prepared it doesn't have to be stressful.

IMPORTANT?FACT?

There is a lack of?financial inclusion, because most financial institutions offer a?one-size-fits-all solution, which has an adverse effect on women.

Fea Money personalised accounts created with you in mind that?helps you plan & save?will soon be accessible.

We've analysed all the?financial and legal?advice that pertains to every stage of a woman's life.

Whatever stage you're in, let Fea Money give you a hand.?

Motherhood, Divorce, Marriage, Menopause, Retirement, Adoption, Death, Dating, or Single We Have You Covered!

I?must admit?that before I began developing our Fea Money products three years ago, I had no idea what the?Menopause policy?was.

I firmly believe that If we can?combine?knowledge?with the appropriate?financial solutions?that cater to a woman's requirements, the?wealth gap?between men and women will narrow more quickly than we think.

Do not forget to register for the?events?listed below. I am looking forward to meeting you at the?Fea Money headquarters?in Zurich.

Here is to a?successful?and healthy 2023

Angelyne J. Larcher

CEO Fea Money