Australia has seen some momentous changes when it comes to the recognition of same-sex relationships in recent years, with the passage of the same-sex marriage legislation in December 2017 marking one of the most significant milestones. The new legislation has had less impact when it comes to super than in many other ... Read more
Women and super
Women retire with less super on average than men because they earn less, so receive lower compulsory employer contributions, and are more likely to take time out of the paid workforce to care for family.
Women also live longer than men, so their retirement savings need to stretch further, and their super can particularly suffer in the event of a divorce.
Learn more about the key issues for women and super in the following SuperGuide articles:
Set out below are all SuperGuide articles that relate to Women and super.
How much super do I need to retire?
No doubt you have heard people say you need a million dollars (or some other nice round figure) in superannuation before you can afford to retire. Often they are the same people trying to sell you investment products or advice. Don’t pay attention to them, because there is no magic number. The amount of super YOU need ... Read more
Super funds with the lowest fees for life and TPD insurance
According to the recent Productivity Commission (PC) report on superannuation, approximately 12 million Australians have some type of insurance through their super, and insurance within super accounts for just under half of the total market for life, TPD (total and permanent disability) and Income Protection ... Read more
Super funds with the lowest fees for income protection insurance
Income protection (IP) insurance (sometimes called salary continuance insurance) is available through about a third of super funds as default cover. It is one of three kinds of insurance available inside super, the others being life and TPD. Of the three, IP insurance is the least common. Income protection insures ... Read more
Women come out on top in the battle of the sexes for super
New research shows investing in a super fund with more women at the upper echelons could increase balances by as much as $55,000 at retirement. The research, conducted by Rainmaker Information, has found super funds with more female representation at board level produce an average return of 9.6% over one year and 8.0% ... Read more
When should I retire?
The decision about when to retire is rarely made overnight. It’s a major life event and deserves careful thought and planning. Finances play a big part, but so do your health, your partner’s circumstances and whether you still enjoy your work or are itching to leave. Sometimes, the choice is made for you. Redundancy, ... Read more
2019 Federal Election: ALP policies on super, tax and retirement
The 2019 Federal Election has been announced for 18 May, and both parties are now presenting their campaign policies to the nation. It’s important to be aware of these policies and any potential positive or negative impacts they may have on your super and retirement planning if the ALP wins the election. This article ... Read more
What are typical fees and costs for running an SMSF?
Many SMSF investors are in the dark about what are typical SMSF fees, and whether they are paying a fair price for SMSF advice and services. In an ASIC report from June 2018, 32% of SMSF members found setting up and running their SMSF to be more costly than expected, compared with just 9% of SMSF members who found it ... Read more
How is superannuation split in a divorce?
Superannuation can be divided between you and your partner if your marriage or de facto relationship breaks down and you permanently separate (including couples in same-sex relationships). However, there are specific rules that need to be followed in all situations to ensure compliance with both Australian super ... Read more
Contribution splitting: How to boost your spouse’s super
Topping up your spouse’s retirement savings account with some of your own super contributions can be a great way to help them save for life after work – and possibly save yourself some tax in the process. Splitting your super contributions with your spouse can be sensible if your spouse is only working part-time or ... Read more
Women and super: How to beat the odds
It’s no secret that women retire with less super on average than men, due to three strikes that hit women for six. Women earn less on average than men so receive lower compulsory employer contributions and they are more likely to take time out of the paid workforce to care for family. They also live longer than men, ... Read more
Age Pension: Is it alleviating poverty?
It’s been the foundation of Australia’s retirement system for more than one hundred years, and the Age Pension has undergone major policy reforms over the years to provide an income for retirees. The Age Pension was introduced in Australia in 1909 and it paid $1 per week, equivalent to $65 today, to men over 65 and ... Read more
Gender inequality in retirement income
Most people will have heard of the term ‘gender pay gap’ and be familiar with what that means but fewer will realise that this is a major cause of what’s known as the ‘gender super gap’. The gender super gap directly affects retirement income and while that gap between men and women is narrowing, policymakers have ... Read more
How super works: A beginners guide to superannuation
Simply put, superannuation (or super) is money you put in a super fund while you are working to provide income later in life when you retire. Given the average Australian can expect around 20 years of retirement, and the Age Pension is designed to provide only the most basic needs, the more you can save now the more ... Read more
Retirement planning case study: Single woman, aged 52
Deb (52), is divorced and single She earns $60,000 per year and has just $85,000 in super after taking time out of the workforce to raise her two children who are now independent She is on track to own her home outright within a few years but has no other investments outside super She won’t be eligible for the ... Read more