International Women's Day: A Time To Remember The Superannuation Gender Gap

Introduction

International Women's Day is a chance to celebrate the incredible women in our lives and place their incomparable efforts in the spotlight. 

The team at Supavest feels very strongly about gender equality and sees International Women’s Day as an opportunity to show our commitment and act as an ally for women in our society and recognise the contributions they make. 

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The Superannuation Struggle For Women

It is no surprise that in Australia we have a gender pay gap that currently sits at women being paid 78 cents for every dollar their male counterpart earns, according to the Workplace Gender Equality Agency. 

With this gender pay gap, comes a great difference in super balances and quality of retirement for women, purely based on the role they place in society.

According to the Australian Human Rights Commission, women have significantly less saved for retirement than men, with half of women aged 45-59 having less than $8,000 or less in their superannuation funds, compared to men who have around $31,000. 

Currently, by the time a woman reaches the 60-65 age bracket her super balance has a greater than 40% gap than her male counterpart, which equates to approximately $100,000 difference in super balance. 

It has also been found that on average, women earn 24% less super than their male counterparts, therefore, not only are women retiring with less in their super accounts, they are retiring with drastically less than men. 

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Questions To Ask Yourself

What questions can a woman ask in order to ensure they have enough super for retirement? 

The team at Supavest has devised five simple questions to ask yourself as a woman who is impacted by the superannuation gender pay gap:

• How much do I have in my super?
• What are my options?
• Where should I start?
• What do I want my retirement lifestyle to look like?
• How can I ensure my family has a financial legacy following my retirement?

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The Supavest Solution

One solution is of course Supavest, and we are working on some exciting things that take action towards real change. 

Supavest offers women the opportunity to take control of their retirement future by investing in high-yield brand new house and land builds, anywhere across Australia. 

Our property investment solution ensures you are receiving an income prior to and well into your retirement years, so you do not have to depend on the government pension. 

Whether you are interested in SMSF property investment or a fractional property investment solution, Supavest has property investment solutions for all types of investors. 

Looking to begin your property investment journey with Supavest? Get in touch with our team!

Happy International Women’s Day! 

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