Career breaks costing women $160,000 in super
Taking career breaks costs women almost $160,000 in retirement savings, according to research by REST Industry Super.
The research also found that the impacts of career breaks on superannuation balances could be worsened when women do not make a financial plan when planning their breaks.
Just six per cent of women participating in the research sought professional advice before taking their career break, and only 16 per cent make a superannuation contribution during that break. Overall, women were 30 per cent less likely to make retirement income plans for during their break than men.
When combined with lower average earnings, this put women who have taken a career break on average superannuation balances $283,141 less than their male counterparts.
Mary Atley, REST general manager, brand, marketing and communications said that the fact that break from work are often pre-planned for women (50 per cent take a break for maternity leave and 49 per cent for childcare) gives them the opportunity to seek financial advice.
She said that while there were a range of structural issues contributing to the gender super imbalance, financial planning could help lessen the impact of planned breaks on super accounts.
The research found that two-thirds of working Australians had taken at least one break from work, with the most common cause being health breaks.
Recommended for you
Super trustees need to be prepared for the potential that the AI rise could cause billions of assets to shift in superannuation, according to an academic from the University of Technology Sydney.
AMP’s superannuation business has returned to outflows in the third quarter of 2025 after reporting its first positive cash flow since 2017 last quarter.
The major changes to the proposed $3 million super tax legislation have been welcomed across the superannuation industry.
In holding the cash rate steady in September, the RBA has judged that policy remains restrictive even as housing and credit growth gather pace.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
