Retirement
‘Deep concerns’: The reality of women’s finances
Another survey has found that the state of women’s finances are dire compared to men, a reality that will hit the Australian economy and social security budget within a generation.
‘Deep concerns’: The reality of women’s finances
Another survey has found that the state of women’s finances are dire compared to men, a reality that will hit the Australian economy and social security budget within a generation.

“These findings highlight deep concerns around the realities of retirement for women and the perception that they will not be able to adequately fund a dignified retirement,” Dr Martin Fahy, chief executive of Association of Superannuation Funds of Australia, said.
“The lack of confidence reflects how women are retiring today, with average balances at retirement a little over half those of men. Whilst the gap is gradually closing, more needs to be done to address the disparity,” he said.
“Today, around 50 percent of women retire with a very low superannuation balance under $50,000, compared with 33 per cent of men. Unless we take active steps to fix this problem, confidence will remain low,” said Dr Fahy.
The government is being pushed to create systemic change to cater for a growing population of female workers, including:

- Removing the $450-a-month threshold for superannuation guarantee
- Paying Superannuation Guarantee on paid parental leave and other income replacement payments (such as salary continuance and worker’s compensation)
- Maintaining the Low Income Superannuation Tax Offset that provides tax refunds and makes superannuation fairer for those on low incomes
- Enabling employers to contribute more for women without being considered to have breached anti-discrimination legislation

Superannuation
Australia's super test dilemma reform could boost long-term gains while keeping accountability sharp
APRA’s latest performance test results have reignited a structural debate: can Australia hold funds to account while still backing the nation’s long-horizon investment needs? With the government ...Read more

Superannuation
Super funds rethink strategy as APRA's performance test hits a fork in the road
The latest performance test results have reignited debate over Australia’s superannuation benchmarking regime and prompted a formal government review. Behind the headlines, boards are quietly rewiring ...Read more

Superannuation
Aware Super enhances digital tools for financial advisers, boosting efficiency and client engagement
Aware Super has unveiled a suite of new digital features designed to streamline the workflow for financial advisers and their clients. This significant upgrade includes direct data feeds to Xplan and ...Read more

Superannuation
Super funds flip the script as APRA's performance test sparks strategic overhaul
Australia’s performance test has lifted the floor on retirement outcomes—and divided the industry in the process. After early shockwaves, failure rates have fallen and fees have trended down, but ...Read more

Superannuation
Rewiring Australia’s super performance test: from compliance brake to capital engine
Can an accountability tool double as a nation-building lever? Canberra’s review of the superannuation performance test aims to preserve member protection while freeing funds to back long-dated assets ...Read more

Superannuation
Superannuation guarantee rate rises to 12 per cent as parental leave changes take effect
The superannuation guarantee rate has increased from 11.5 per cent to 12 per cent from Tuesday, with super contributions also being added to Commonwealth Parental Leave Pay for the first time. Read more

Superannuation
Rest's Sustainable Growth option achieves highest sustainability classification
Rest superannuation fund has achieved the highest sustainability classification for its Sustainable Growth investment option from the Responsible Investment Association Australasia. Read more

Superannuation
Aware Super slashes admin fees for retirees by up to 25 per cent
Aware Super has reduced administration fees for members with a retirement income account by up to 25 per cent and lowered the maximum annual fee. Read more