12% super rate vital to women’s retirement, even if widens gender gap

Raising the Superannuation Guarantee rate to 12% is key to improving the retirements of women, despite concerns it could widen the super gender gap, says the Australian Institute of Superannuation Trustees. A debate around raising the Superannuation Guarantee rate is ongoing, driven in part by a report from the Grattan Institute calling for the rate… Continue reading 12% super rate vital to women’s retirement, even if widens gender gap

Voluntary super: a good way to increase women’s dependence on men

Written by Helen Hodgson, Curtin University and Myra Hamilton, UNSW. Making super contributions voluntary for people earning less than A$50,000 a year, as proposed by Liberal Senator Andrew Bragg, would be a backward step for women. It would predominantly be used by women, because more women earn less than A$50,000 than men. In 2016-17, 306,008… Continue reading Voluntary super: a good way to increase women’s dependence on men

Women not confident they will have enough for a comfortable retirement

Women, and particularly young women, are not confident they will have enough money in their retirement, a survey has found. Only 30% of women have a high degree of confidence they will have enough saved for a comfortable retirement, compared to 39% of men, the latest Qantas Super CSDA Retirement Confidence Index has found. Young… Continue reading Women not confident they will have enough for a comfortable retirement

We won’t fix female super until we fix female pay, but Labor’s ideas are a start

Written by Helen Hodgson, Associate Professor, Curtin Law School and Curtin Business School, Curtin University   Women retire with embarrassingly little super compared to men. In 2015-16 the typical (median) Australian woman retired with A$36,000. The typical male had A$110,000. When presented as averages, the difference is less stark because a small number of big superannuation… Continue reading We won’t fix female super until we fix female pay, but Labor’s ideas are a start

Super. If Labor really wanted to help women in retirement, it would do something else

Written by Brendan Coates, Fellow at the Grattan Institute, and Owain Emslie, Associate at the Grattan Institute.   When it comes to the gender gap in retirement incomes, symbolism appears to matter more than actually achieving something. Labor’s plan to add super contributions to government-funded parental leave was heralded by Opposition Leader Bill Shorten this… Continue reading Super. If Labor really wanted to help women in retirement, it would do something else

Government takes over 2 years to reject women’s retirement recommendations

It has taken the Government more than two years to publicly reject recommendations aimed at improving the economic security of women in retirement, including faster increases the Super Guarantee rate and removing the $450 SG threshold. A Senate committee released its report, ‘A husband is not a retirement plan’, Achieving economic security for women in… Continue reading Government takes over 2 years to reject women’s retirement recommendations

Government shouldn’t delay super and wage gap policies: ACTU

The ACTU has criticised the Government for delaying the announcement of policies aimed at the wage and superannuation gender gap until the second half of 2018, instead of including them in the recent Budget. Before the 2018 Budget was released Minister for Revenue and Financial Services Kelly O’Dwyer announced that there would be a Women’s Economic Security… Continue reading Government shouldn’t delay super and wage gap policies: ACTU

Over 80% of women don’t feel prepared for financial futures

Over 80% of Australian women don’t feel satisfied their financial futures are on track. Research by BT indicates that only 18% of women feel satisfied that they are on track in preparing for their financial future. Speaking at the 2018 Global Summit of Women, BT General Manager Superannuation Melinda Howes said this highlighted the need… Continue reading Over 80% of women don’t feel prepared for financial futures

Women not as engaged with superannuation as men, says ASFA

Women are not as engaged with their superannuation as men, on average, according to the Association of Superannuation Funds of Australia (ASFA). A survey of 1,000 Australians conducted by ASFA found that 15% of women knew their exact super balance compared to 25% of men. It is unclear if their actual balances were checked as part… Continue reading Women not as engaged with superannuation as men, says ASFA

Women underpaid $1.84 billion in superannuation in one year

Women were underpaid $1.84 billion in superannuation in 2013/14, according to Industry Super Australia analysis of the latest ATO data. The average underpayments works out to $1,550. This is in addition to the gender pay gap, and only relates to women eligible for Superannuation Guarantee. Industry Super Australia (ISA) says this means the women who… Continue reading Women underpaid $1.84 billion in superannuation in one year