Confronting the Superannuation Gender Gap
Advocates say more needs to be done to address the issue, as recent tweaks to superannuation tax offsets for low-income earners will barely help the quarter of women who retire in poverty.
Meet Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, who is worried about affording her own old age. She says,
I’ll have to work for as long as I can, however long an employer will keep me.
Rosemary's situation is not unique, as she has minimal superannuation saved due to taking 10 years out of the workforce to raise her children, and then facing financial uncertainty after their father left.
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Author's summary: Women face financial uncertainty in retirement due to the superannuation gender gap.