Australian Retirement Trust flags super gender gap | the advisory скачать в хорошем качестве

Australian Retirement Trust flags super gender gap | the advisory

Key points: Women retire with around $50,000 less in super on average, a 25% gap versus men Policy moves like the low income superannuation tax offset and payday super praised as positive steps Calls for super on carers’ payments, reforming rules for low-hour and casual work Persistent 10% financial engagement gap between men and women across generations New research by Australian Retirement Trust highlights a persistent gender gap in superannuation balances, with women continuing to retire with significantly less than men. Anne Fuchs from Australian Retirement Trust states women retire with an average of $50,000 less in super compared to their male counterparts. According to Fuchs, while the situation is improving, women still retire with approximately 25% less, driven by factors such as career breaks, lower pay in female-dominated industries, and traditional caring responsibilities. Fuchs welcomes recent policy initiatives like the low income superannuation tax offset, which is set to benefit many women as 60% of impacted members at Australian Retirement Trust are female. She highlights the importance of policies such as payday super and is encouraging further reforms, for instance, providing super payments on carers’ allowances and ending thresholds that limit super contributions for those in casual or low-hour employment. Fuchs also raises the challenge of valuing unpaid care work in super frameworks and invites government engagement to solve this complex issue. A persistent confidence gap, with women feeling less informed and less likely to engage with their super or investments, is also identified by Fuchs. She urges women to actively improve their financial literacy, noting that self-education and making informed choices are critical to closing the gender super gap.