Australian women lose super race

26 November 2019
| By Oksana Patron |
image
image image
expand image

The average woman’s superannuation balance is almost 50% less than a man’s when retirement age is reached, according to the research by the Melbourne Institute.

The study further showed that, on average, Australian men transition into retirement with $454,000 while women lagged behind with just $231,000 due to time spent out of the workforce.

On top of that, events such as relationship breakdowns, changes to employment status and medical issues can also had huge implications on a woman’s financial health.

The institute said female experts urged women to start taking small steps now so they’re not caught short later as information regarding personal finance and how to plan for the future was becoming more accessible, with women encouraging women to educate themselves in order to protect their future financially. 

By preparing in the short-term women could create a better buffer that would protect them against unexpected ups and downs.
 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 6 months ago
Kevin Gorman

Super director remuneration ...

1 year 6 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 6 months ago

Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”. ...

2 hours 19 minutes ago

The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members....

2 hours 53 minutes ago

Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financia...

2 hours 59 minutes ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3