Superannuation

Women can face unique challenges when it comes to retirement savings. Lower pay, time out of the workforce to raise children and running a single-parent household can make it challenging to build a reasonable amount of super.

Women also tend to live longer than men, making it even more essential for them to accumulate enough superannuation to last through retirement.

Workplace Gender Equality data shows that a gender pay gap in average annual earnings for full-time permanent employees results in an annual 19.3% shortfall in superannuation contributions for women compared to men.¹

The average Australian woman currently retires with about $127,000 in superannuation savings, compared to $176,000 for men.²

35% of women have no money prepared for retirement and one in three Australian women do not have any superannuation at all, including 60 per cent of women aged 65 to 69.³

More information:

• Gender Indicators, Australia: Superannuation Australian Bureau of Statistics
• MoneySmart: Superannuation and Women ASIC
• Find your lost super Australian Taxation Office
• The Gender Gap in Retirement Savings Australian Human Rights Commission
• The Facts About Women and Super Women in Super
• Women's Money Toolkit ASIC

References

1. Workplace Gender Equality Agency, Pay gap leads to 19.3% annual super shortfall for full-time women
2. Roy Morgan (2018), Single Source Survey
3. Association of Super Funds Australia (2014), An update on the level and distribution of retirement savings.