Confronting the Superannuation Gender Gap
Advocates say more needs to be done to address the issue, as tweaks made to superannuation tax offsets for low-income earners will barely help the quarter of women who retire in poverty.
For example, Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is worried about her own old age. She has minimal superannuation saved and faces a future of financial uncertainty.
"I'll have to work for as long as I can," she says. "However long an employer will keep me."
Rosemary's situation is not unique, as she took 10 years out of the workforce to raise her children and then faced further challenges when their father left.
- She is among many Australian women approaching retirement age with limited superannuation savings.
- Her life path is a testament to the struggles women face in securing their financial future.
Author's summary: Australian women face significant challenges in securing their financial future due to the superannuation gender gap.
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