Empower your financial future
Women often face unique challenges with superannuation, such as career breaks or lower earnings compared to men, impacting retirement savings. We aim to provide support and resources to help women overcome these challenges and strengthen their financial security.
In support of International Women's Day, AustralianSuper presented the Women and super: Accelerate action webinar at the beginning of March.
Watch recorded webinar
Life’s journey is rarely straight forward
Whether you’re just beginning your superannuation journey or seeking strategies to boost your retirement savings, this webinar is designed with the tools and insights to make a difference to your retirement balance.
Women and super FAQ
What is the superannuation gap?
On average, men have 33% more superannuation at retirement than women1.
Why do women have less super?
This may be due to a range of reasons including lower earnings, part-time employment, and time out from the workforce.
What is the average super balance for women in Australia?
The average super balance for women in Australia is around $146,146. This is significantly lower than the average for men, which is around $182,6672.
5 tips to take control of your super for women
-
1. Compare and choose
1. Compare and choose
Doing a comparison of funds might be a great place to start when choosing the right super fund for you. You may want to look at things like investment performance, what fees you’re going to pay and if they’re reasonable, and what insurance options might be available.
Compare super funds
2. Consider consolidating
2. Consider consolidating
Having more than one super account generally means more paperwork, and often additional costs too. Doubling up on fees can chip away at your overall super balance, which is why you may want to consider combining multiple accounts into one3.
Consolidate your super
3. Contribute a bit more if you can
3. Contribute a bit more if you can
In addition to any employer contributions you might receive, your super can grow through investment performance4 and any extra contributions you add to it during your working life5. You’re also able to generate returns on top of returns, as super benefits from compound interest.
Grow your super
4. Check your insurance
4. Check your insurance
There are generally three types of insurance cover available in super, including Death, Total & Permanent Disablement, and Income Protection. Paying for insurance cover out of your super may mean you'll have less for retirement, but having cover can provide peace of mind, so consider if it’s right for you.
Review insurance
5. Manage your super on the go
5. Manage your super on the go
Managing your super on the go has never been easier with the AustralianSuper mobile app. You can check on your super anywhere, anytime. And, it's and easy way to get in touch with us. Download the app today in three easy steps.
Download the app
-
Important information you should know
- Ages 60 - 64, Deloitte Average Balances to 30 June 2024, rounded to the nearest $100. People with zero superannuation are not included in average data.
- Average balance for males and females. ATO data to June 30 2022, ato.gov.au/about-ato/research-and-statistics/in-detail/taxation-statistics/taxation-statistics-2021-22/statistics/individuals-statistics
- Before consolidating your super, consider any fees or charges that may apply, and the effect this transfer may have on any benefits you have in your other fund, such as insurance cover. We recommend seeking financial advice.
- Investment returns aren’t guaranteed. Past performance isn’t a reliable indicator of future returns.
- Before adding to your super, consider your financial circumstances, contribution caps that may apply, and tax issues. We recommend seeking financial advice.
- Personal financial product advice is provided under the Australian Financial Services Licence held by a third party and not by AustralianSuper Ltd. Fees may apply.