New super splitting laws will help women get their fair share of superannuation assets when a relationship breaks down and is a positive step to address the gender savings gap - but more must be done to ensure women do not continue to retire with woefully inadequate savings.
Since 2018 women’s legal services and the super industry have advocated for the introduction of laws that would make it easier for parties in family court matters to identify and easily split superannuation savings.
As the law currently stands finding out the super savings of a former spouse can be a costly, complex and time-consuming, causing many to miss out on their fair share of assets when a relationship ends. Advocates say it is mostly low-income women who lack the resources to pursue what they are entitled to.
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