Advocates say more needs to be done to address the issue, as tweaks made to superannuation tax offsets for low-income earners will barely help the quarter of women who retire in poverty.
Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is concerned about her own old age. She says,
I'll have to work for as long as I can, however long an employer will keep me.
Rosemary's situation is not unique, as many Australian women approaching retirement age face financial uncertainty due to minimal superannuation savings. She took a 10-year break from the workforce to raise her children, and
then their father left, further impacting her financial stability.
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Author's summary: Australian women face a significant superannuation gap.