Confronting the Superannuation Gender Gap
Advocates say more needs to be done to address the issue, as tweaks made to superannuation tax offsets for low-income earners will barely help the quarter of women who retire in poverty.
Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is worried about her own old age. She has minimal superannuation saved and faces a future of financial uncertainty.
"I'll have to work for as long as I can," she says. "However long an employer will keep me."
Rosemary's situation is not unique, as many Australian women approaching retirement age have taken time out of the workforce to raise children, like Rosemary, who took 10 years off.
- Took 10 years out of the workforce to raise her children
- Has minimal superannuation saved
- Faces a future of financial uncertainty
Author's summary: Women face financial uncertainty in retirement due to the superannuation gender gap.
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