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Gender savings gap to span decades

Published: 31 Aug 2021

The typical woman is retiring with a quarter less super than the typical man and with Australia’s gender pay gap growing in the last six months the savings gap could also widen.

The median super balance for a woman in her early 60s is just $131,352 lagging the male median of $177,882 (See table 1).

Nationally women trail men at all ages, but the gap widens dramatically when women are in their 30s and 40s – at an age when many women take time out of the paid workforce to care for children.

Yet the government still refuses to pay super on the Commonwealth parental leave scheme, costing a mother of two more than $14,000 at retirement.

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