Signs that some women have moved the dial on super
Superannuation | 2/09/2016 |
2 min read
In the wrap up of the 2015-16 financial year, we've learned that Equip women aged 55 to 59 are much better off relative to men since we launched of our Move the Dial awareness program in 2014. Our younger women are also still tracking well.
Although this is good news, women are still disadvantaged in saving for retirement due to a combination of generally lower income than males across the working population, taking breaks from work to bring up young families and, in some instances, grappling with running a single-parent household.
According to the Australian Securities and Investments Commission (ASIC), in 2013-14, women were retiring with $138,150 in super, about half the amount that men retired with. So its good to see women in Equip are doing relatively better than average.
Over 6,000 people have used our Move the Dial comparator to see how their super is tracking relative to other men and women in Equip. All you need to do to check out yours is enter your age and super balance on our Move the Dial page.
We also offer plenty of educational materials throughout this site to help you make the most of your super. ASIC offers some online tools specifically designed to help women manage their super and other finances on its MoneySmart website.