Time to close the superannuation gender gap: ISA

Industry Super Australia used International Women’s Day to call for the super gender gap to be bridged. Industry Super Australia (ISA), along with Women in Super (WIS), have called on the federal government to make “simple” changes that could help close the super gender gap – such as removing the $450 threshold to receive Super… Continue reading Time to close the superannuation gender gap: ISA

Super gender gap worst in WA and Queensland, best in NT and ACT

New figures show that the superannuation gender gap is worst in Western Australia and Queensland, and best in the Territories. Figures released by Women in Super and the Australian Institute of Superannuation Trustees have the average super gender gap – the difference between the average super balances of women and men – ranging across the… Continue reading Super gender gap worst in WA and Queensland, best in NT and ACT

“Real progress” made on super gender gap, down to 27.8%

In the last decade the superannuation gender gap has narrowed from 40.9% to 27.8%. According to the latest figures from Roy Morgan, the average super balance of women in 2008 was $68,000, or 59.1% of the average male super balance of $115,000 (a gap of 40.9%). By 2018 the gap had narrowed, to an average… Continue reading “Real progress” made on super gender gap, down to 27.8%

Super gender gap at retirement is 43%, or $132,000

The superannuation gender gap just before retirement is currently 42.7%, or $132,000. Roy Morgan Research finds that the average superannuation held by women planning to retire in the next twelve months is $177,000 – which is 57.3% of the balance of men at the same stage, who have $309,000 on average. The super gender gap… Continue reading Super gender gap at retirement is 43%, or $132,000

Financial advice could help close superannuation gender gap

Seeking professional financial advice could help close the superannuation gender gap. According to Roy Morgan Research the superannuation gender gap is 28.1%, with women on average having only 71.9% of the balance of men – $133,000 compared to $185,000. Though this is slowly closing – in 2013 the average super balance of women was $99,300, which… Continue reading Financial advice could help close superannuation gender gap

Closing gender pay gap won’t close superannuation gap, ISA finds

Closing the gender pay gap won’t close the superannuation gender gap, an analysis of ABS data by Industry Super Australia has found. “Even if we close the gender pay gap, workforce spells and lost compound returns will see women continuing to retire with much less super than me,” said Industry Super Australia. Comparing all workers… Continue reading Closing gender pay gap won’t close superannuation gap, ISA finds

Career breaks cost women almost $160,000 in retirement savings

Taking a career break costs Australian women $159,590 in retirement savings, new research has found. The research, commissioned by the REST Industry Super fund, indicates this is one factor contributing to the $283,141 superannuation gap between women and men at retirement. Two-thirds of working Australians take at least one career break at some point, with… Continue reading Career breaks cost women almost $160,000 in retirement savings

Women finally getting more superannuation, ASFA finds

The super system is delivering bigger super balances across the community and lifting the living standards of retirees, says the Association of Superannuation Funds of Australia (ASFA). “However, while women now have a bigger slice of superannuation benefits, they are still behind men when it comes to average balances,” said ASFA. The average balance in 2015/16… Continue reading Women finally getting more superannuation, ASFA finds

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… Continue reading Superannuation gender gap has decreased over past nine years: research