Confronting the Superannuation Gender Gap
Advocates say more needs to be done as tweaks made to superannuation tax offsets for low-income earners will barely help the quarter of women who retire in poverty.
For example, Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, worries about affording 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 typical of many Australian women approaching retirement age, having taken 10 years out of the workforce to raise her children, and then facing financial uncertainty after her husband left.
- Rosemary has minimal superannuation saved.
- She faces a future of financial uncertainty.
Author's summary: Women like Rosemary face financial uncertainty in old age.
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