AustralianSuper on Closing the Gender Super Gap
Feb 22, 2024
Closing the super pay gap
Women approaching retirement have around 23% less super than men1, in part due to lower earnings and time out from the workforce.
It highlights the issue of the gender super gap, which can make a big difference to the financial future of many Australian women.
Closing the gap
The Low Income Superannuation Tax Offset (LISTO) was introduced to help those on low incomes boost their retirement savings.
Currently if you earn $37,000 or less a year you may be eligible to receive a LISTO payment of up to $500.
AustralianSuper is one of 12 super funds asking the Federal Government to help do more to close the gender super gap2.
This includes raising the LISTO eligibility to $45,000, increasing payments and making super part of parental leave.
Women and Super – Bridging the gap together
AustralianSuper is hosting ‘Women and Super – Bridging the gap together’ webinars throughout March.
Each session will cover the super gender gap, together with some helpful tips to take control of your super now.
Learn more Here.
1 Ages 60 - 64, Deloitte Average Balances to 30 June 2022, rounded to the nearest $100. People with zero superannuation are not included in average data.
2 Women in Super media release: 16 August 2023 Super funds unite to urge gender equality reforms to superannuation tax offset
This information may be general financial advice which doesn’t take into account your personal objectives, financial situation or needs. Before making a decision about AustralianSuper, you should think about your financial requirements and refer to the relevant Product Disclosure Statement available at australiansuper.com/pds or by calling 1300 300 273. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/tmd.
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