Archive for June, 2017

women superannuation rp wealth management insurance oran park

‘Women and super – it’s time to plan ahead’

Gender equality in enshrined in Australian law, however one area where women are falling short is their ability to save for retirement. So much so, in fact, that at around $190,000, the average super balance for women at retirement is around two-thirds the amount of men[1].

There are many reasons for this, including the gender pay gap and the tendency for women to take time out of the workforce to raise a family. When women do return to work often it’s on a part-time basis, in lower-paid jobs or they have missed out on promotions.

Blessed with longer lives – around three years on average for those turning 65 this year – women also face the extra financial hurdle of needing more savings, if anything, to cover their full retirement.

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