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.
Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is concerned about her own financial future. 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 many Australian women approaching retirement age face financial uncertainty due to limited superannuation savings. She took a 10-year break from the workforce to raise her children, and
"then their father left,"further impacting her financial situation.
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Author's summary: Women face financial uncertainty in retirement due to limited superannuation savings.