Motherhood most significant explanation for super gender gap

Motherhood is the most significant explanation for the superannuation gender gap, new research has found. According to the latest figures women are retiring with around half as much superannuation, 53%, as men. Surveys conduced by the Australian Services Union (ASU) indicate that motherhood is a significant factor in this superannuation gender gap. Though the report… Continue reading Motherhood most significant explanation for super gender gap

LISTO must be passed to help close superannuation gender gap

Industry Super Australia says the Low Income Superannuation Tax Offset (LISTO), announced in the 2016 Budget, must be legislated to help close the gender gap in retirement savings. Pointing to ABS figures, Industry Super Australia (ISA) says that men retire on average with $322,000 in superannuation, compared to $180,000 on average for women. “Too many Australian women are continuing… Continue reading LISTO must be passed to help close superannuation gender gap

2016/17 Budget must help close super gender gap: ISA

Industry Super Australia says the 2016/17 Federal Budget must include policies to help close the superannuation gender gap. “Poorly targeted tax concessions are fueling a 45% super gap between men and women with new analysis showing women, lower paid and part-time workers missing out on much-needed help to save for retirement,” said Industry Super Australia… Continue reading 2016/17 Budget must help close super gender gap: ISA

Women lose over $1 million to gender pay gap over a lifetime

The gender pay gap means women lose more than one million dollars over their lifetime, with implications for retirement savings, according to a new report. “It’s a cumulative process that occurs at each stage of a woman’s life. It includes gender-specific factors, discrimination and is evidence of deeply entrenched inequality in Australia,” says the ACTU’s Gender Pay Gap… Continue reading Women lose over $1 million to gender pay gap over a lifetime

Senate inquiry into economic security for women in retirement

The Senate has started an inquiry into the economic security of women in retirement. In the Senate this week Labor Senator Jenny McAllister moved that the Senate Standing Committee on Economics investigate the retirement income gender gap. “The Senate notes that, although women’s increasing workforce participation has contributed significantly to Australia’s economic productivity and to women’s… Continue reading Senate inquiry into economic security for women in retirement