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.
Meet Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, who helps her community spend their final years in comfort and safety. Despite her dedication, she worries about her own old age, saying:
"I'll have to work for as long as I can. However long an employer will keep me."
Rosemary's situation is not unique, with minimal superannuation saved and facing financial uncertainty. Her life path resembles those of many Australian women approaching retirement age, having taken 10 years out of the workforce to raise her children.
Her story highlights the need for further action to address the superannuation gender gap.
Author's summary: Women face poverty in retirement due to superannuation gap.
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