Superannuation gender gap has decreased over past nine years: research

New research shows that the superannuation gender gap has closed, somewhat, over the past nine years, but remains at almost 40%.

Research by Roy Morgan Research shows that, for people intending to retire soon, females have an average balance of $158,000, or 60.8% of the average male balance of $260,000.

“The gender gap has closed considerably since 2008 when the female balance was only $79K or 55.2% of the average male superannuation balance. A great deal of publicity has been given to this issue and it has obviously increased awareness and effort to improve retirement funding for women,” said Roy Morgan Research.

Related: Motherhood most significant explanation for super gender gap

“Despite real gains in employment for women, adequacy of women retirement funds remain well behind that of men,” said Norman Morris, Industry Communications Director for Roy Morgan Research.

“It appears some progress has been made over the last nine years but these small gains indicate it will take some considerable time and changes to superannuation conditions for females to achieve an adequate level of superannuation more equivalent to their male counterparts”

“Of course retirement funding is not just about superannuation as Roy Morgan’s research has identified the financial position of intending retirees is enhanced by over $100K if other investments are included, and an additional $220K if the value of the home is taken into account.”

The statistics come from the Roy Morgan Consumer Single Source survey, and is based on Australians aged 25 and over who intend to retire in the next 12 months.

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One Reply to “Superannuation gender gap has decreased over past nine years: research”

  1. The average male Super fund approaching retirement is adequate at $260,000???? So if was placed into a Super Retirement Fund and drawn down at 5%, then what would the annual income be from this adequate amount???

    Do the maths …. it’s just a mere $13,000/yr.

    But hang on, that’s not the end of the story. A married couple who own a house, sorry to be soo politically incorrect, but the male with $260,000 and the female with $158,000 gives the couple a grand total of $418,000. Add that to other assets of the couple and what does that give them??? It gives then a reduced annual income from their combined assets drawn down at 5% added to their reduced Aged Pension payment then if they only had a combined assets to the value of $380,500 added to the Full Aged Pension payment.

    You need a good financial strategy if you try to exceed the minimum assets limit. Then try and factor in the deeming income rules re eligibility for the Aged Pension.

    Having more in Super may not be automatically to your financial advantage at pensionable age.

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