Confronting the Superannuation Gender Gap
Advocates say more needs to be done to address the superannuation gender gap, as recent tweaks to superannuation tax offsets for low-income earners will barely help the quarter of women who retire in poverty.
For instance, Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is worried about her own old age due to minimal superannuation savings. She had taken 10 years out of the workforce to raise her children, and after their father left, her financial situation became uncertain.
"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 many Australian women approaching retirement age face similar financial uncertainty.
Author's summary: Women face financial uncertainty in retirement due to the superannuation gender gap.
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