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.
For instance, Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is concerned about her own old age. She says,
"I'll have to work for as long as I can, however long an employer will keep me."
Rosemary's situation is not unique, as she took 10 years out of the workforce to raise her children and now faces financial uncertainty in her retirement. Her story resembles those of many Australian women approaching retirement age.
Author's summary: Australian women face financial uncertainty in retirement due to the superannuation gender gap.