Voya Financial has been recognized in the 2017 Bloomberg Financial Services Gender-Equality Index for its commitment to gender parity.

According to Bloomberg, data provided by the index helps investors see how well firms in the financial services industry do in their commitment to disclosure and best-in-class policies and practices with regard to employee policies, gender-conscious product offerings and external community engagement.

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Considering how far behind women are in saving for retirement, as well as in other areas of finance, efforts to promote gender parity could have a substantial effect on their financial well-being. According to a recent TIAA white paper, women need to save nearly twice as much as men to have a decent retirement.

And while much has been written about their financial handicaps—lower pay, shorter time in the workplace, lack of access to a retirement plan, risk aversion in investments—not all that much attention has been devoted to gearing education about retirement savings to those particular issues and needs.

Women, after all, are working harder at saving for retirement than men, according to an ADP Research Institute study, for all the good it's doing them.

Parity between women and men in the financial services industry could conceivably lead to products that are more suited to compensating for the issues that women face, while a better understanding of those issues could lead to better ways to educate women on the aspects of retirement planning in which they lack confidence.

The 2017 index includes only 52 firms across Europe, the Middle East and Africa (EMEA), Asia Pacific (APAC) and the Americas. The BFGEI provides managers and investors with more comparative information across the gender-equality space, while encouraging disclosure, providing greater market transparency and raising awareness of gender-related issues.

Voya said that its presence in the index "showcases its commitment to creating an environment of inclusion and, alongside its peers recognized in the BFGEI, its commitment to better understanding the gender-equality issues that customers, colleagues and communities face."

The index is scored via a social survey developed by Bloomberg in partnership with third-party experts that include Women's World Banking, Catalyst and Working Mother Media. To be included in the index, companies must have dedicated social disclosure policies and practices.

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