Getting married soon? Sort finances before saying 'I do'

A wedding is a promise of a shared future, but concerningly, especially when it comes to retirement, many couples delay discussion of how they’ll plan for their future finances. Mapping out your finances to track life’s milestone moments long before the big day is important to ensure both partners feel confident and prepared - from the prospect of taking a possible career break, to job loss, potential illness and being comfortably affording retirement.

With Scottish Widows' latest Women and Retirement Report finding that the gender pension gap has widened to a critical 32%; women are at risk of reaching retirement with far less than men. This is often because they’re more likely to take time out of work for children, caring or health issues. Talking openly as a couple about how you’ll handle these moments before you get married will make a real difference to both of your futures.

Susan Hope, Retirement Expert at Scottish Widows, shares some simple ways couples planning a 2026 wedding can start those money conversations now and make sure any future career breaks don’t derail their longterm plans.

1. Potential career breaks as a shared plan

Marriage is a partnership, and that includes how you manage time out of work. Around half of women have taken a career break at some point in their lives, compared to just one in five men – which means women are still more likely to see their longterm savings take the hit.

Rather than assuming one partner will always step back, try to think about career breaks as something you plan for together. Talk calmly about what might happen if one of you takes time out,  for children, caring or retraining, and how you could share the impact, for example by using shared parental leave or agreeing that the partner who stays in work will help keep the other’s pension contributions going. Even small ‘thirdparty’ contributions into the partner taking a break can help their pension keep growing in the background.

2. Build a dedicated 'future fund' from wedding gifts

Many couples now opt for cash gifts on their wish list, which can be a lovely way to start your new life together. As well as putting money towards a honeymoon or home decor, you could agree to set aside a portion for a shared ‘Future Fund’ - a pot that supports you through any future career breaks or big life changes.

This might sit in a simple, easyaccess savings account with a target of three to six months of essential expenses. Knowing you have this cushion in place can make it less stressful if one of you does step back from work, because everyday bills and surprise costs are less likely to force you to pause pension saving or dip into longterm investments. It’s a quiet, practical way of looking after each other’s future selves.

3. Protect the state pension with national insurance credits

If one partner expects to take more time out of paid work for childcare, it is worth understanding how that might affect their State Pension and how you can protect it together. Career breaks can mean missing National Insurance contributions, which may reduce the amount of State Pension they eventually receive. Before you get married, or in the early stages, make it a joint task to look at both of your State Pension forecasts online and check for any gaps. If one of you takes time out to look after children, make sure Child Benefit is claimed in their name, even if your income is too high to receive the payments, as this usually provides valuable NI credits. If you do spot gaps, you can discuss whether topping them up with voluntary NI contributions works for you as a couple.

4. Add this conversation to the topic of kids  

While women are still more likely to be primary caregivers, thinking about shared parental leave early on can help you spread both the responsibility and the financial impact of time at home. Many couples aren’t fully aware of how shared parental leave (SPL) works or whether their employer offers it. Finding this out is important as four in five (80%) women who had children in the last 10 years didn’t take advantage of it. Ahead of starting a family, understanding if SPL is available and the level of your pension contributions will be during your career break is critical. For example, you might decide to split leave more evenly, or for the higher earner to take some time away from work too, while still contributing to the other’s pension. 

5. Be a pension dream team 

Getting married often changes how you think about money,  you may move in together, merge bills or plan bigger goals. It’s a good moment to look at your pensions side by side and see them as part of your shared picture, rather than something you each manage alone. Scottish Widows’ Women and Retirement Report shows that a fiveyear break at age 35 can leave women almost £70,000 worse off in retirement, but even small, regular contributions during a break help keep things on track. You might agree that, whatever happens, you will both try to keep at least a small pension contribution going during any time out of work, then revisit the amount once the partner who has taken a break is back at work or childcare costs ease. A short annual ‘money checkin’ held around the time of your anniversary can be a gentle way to review budgets, contributions and any new goals together, so your financial plans evolve as your relationship does.

6. Be pension detectives

Something important that a lot of people neglect is tracing back old pension pots from previous employers. According to the ABI, there is £31.1bn in unclaimed pensions, with much of this due to people changing addresses or names post-marriage. Taking the time to look back at your job history could provide a major boost to your pension with minimum effort. Use this opportunity to make sure your death benefit nominations are also up to date, to ensure the correct beneficiaries are on record should the worst happen.