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Sunday, 12 March 2023
SUPER GENDER GAP PERSISTS
ACCORDING to Industry Super Australia's new analysis, women nearing retirement have nearly $50,000 less super than men and women of all ages have about a quarter less super than men.
The median super balance for women in their early 60s is just $159,600, compared to $210,800 for men. The gender gap in super balances is widest in Western Australia, where women have 34% less super than men.
Combatting unpaid super by mandating payment on payday, paying super on Commonwealth Parental Leave Pay and increasing the Low-Income Superannuation Tax Offset are ways the government can improve equity in the system
One in five women in 2019-20 were affected by unpaid super, resulting in a loss of $1.3B in contributions.
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Michael Walls
michael@accessnews.com.au
0407 783 413
