Thought leadership

Thought leadership

8 ways employers can help close the gender super gap

Australia's super system aims to provide retirement income to members, yet Australian women retire with $53,000 less on average compared to men.* We'll discuss the gender super gap and provide guidance for employers to support women in the workplace and ways to help reduce the gender super gap.

The facts on women and super
Retiring with less
Men tend to earn more which leads to larger retirement savings.
Extended workforce absence
Women take more time off work for caregiving than men.
Live longer
Statistically women live longer than men, so their retirement savings need to stretch further.
How employers can help

It's not just policymakers who can solve this problem. Employers have a crucial role to play in reducing the gender super gap. Here are eight things you can do:

  1. 1
    Make salaries fair

    Commit to pay equity by completing regular pay audits and ensuring that everyone gets equal pay for equal work. Transparent salary structures and policies can help identify and fix any disparities.

  2. 2
    Embrace flexibility

    Offer flexible work arrangements like remote work, flexible hours, or part-time options. This gives employees the power to balance their work and personal responsibilities, which reduces career interruptions and supports continuous employment.

  3. 3
    Support return-to-work programs

    Implement initiatives that support employees returning from career breaks. These programs help women get back on track professionally, access development opportunities, and rebuild their super savings.

  4. 4
    Improve parental leave policies

    Offer longer parental leave periods, pay super on parental leave, encourage fathers to take paternity leave, and have policies that make it easier for people to transition back to work after parental leave.

  5. 5
    Provide financial education and support

    Offer financial education programs to help employees manage their finances better, including retirement planning and investment strategies. This empowers women to make informed decisions about their super and long-term savings. We can help with this! Book a seminar today for your workforce.

  6. 6
    Create mentorship and sponsorship programs

    Establish programs within the organisation that provide guidance, support, and networking opportunities for women. These initiatives help women advance in their careers, bridge any skill gaps, and access senior leadership positions, which ultimately increases their earning potential and retirement savings.

  7. 7
    Foster an inclusive culture

    Strive to have equal representation of women at all levels in the organisation. Building an inclusive culture that values diversity and gender equality creates an environment where women can thrive, succeed, and earn.

  8. 8
    Partner with a super fund that cares about gender equality

    At CareSuper, we offer educational resources and events for women to help them achieve better financial outcomes. As a top-performing Industry SuperFund we also offer gender-based insurance rates (among other criteria), allow members to waive insurance fees during parental leave, and we foster gender diversity on our board and staff. 

Begin your journey with CareSuper today

CareSuper teams up with businesses of all sizes and industries, simplifying super for everyone.

Super on parental leave

At CareSuper we’re thrilled to support the recent announcement that from 1 July 2025, the Federal Government will pay super in addition to the current 20 weeks government-funded parental leave.

We believe in supporting our members throughout their lives including during life’s most transformative moments. It’s a win-win for parents’ financial futures and is a positive step for our members and the community.

We understand that parental leave can be financially challenging. That’s why we go above and beyond. If our members aren’t receiving SG contributions into their CareSuper account during their parental leave, they can waive their insurance fees for up to 24 months! This means that even when SG isn’t being paid, our members’ insurance coverage remains intact.

We also make it easy to update insurance cover when families are expanding. It’s our way of ensuring peace of mind during this important phase of their lives.

We stand firmly behind this positive change which aligns with our commitment to fairness and equality in retirement savings and marks a significant step towards bridging the gender super gap.

What further policy changes are needed

To close the gender super gap, we need policy changes. The Association of Superannuation Funds of Australia (ASFA) suggests the Federal Government introduce a ‘super baby bonus’ of $5,000 would assist in bridging the gap by 2050.^

In a positive move, reforms to Workplace Gender Equality laws passed in early 2023 allow the Workplace Gender Equality Agency (WGEA), to publish gender pay gap reports received from organisations with more than 100 employees on the WGEA website. This legislation is designed to drive transparency and action towards closing the gender pay gap and improving economic outcomes for women. It will give potential employees the opportunity to make informed choices about where they work and would serve as an incentive for businesses to make positive changes. 

CareSuper leads industry with lowest gender pay gap
According to data from the Workplace Gender Equality Agency (WGEA), we’ve emerged as the best performer among all super funds. Our 2023 mean gender pay gap is significantly lower than the Industry Comparison Group.

This progress demonstrates that our actions continue to move us in the right direction in our own organisation, ensuring equality and inclusivity for all, and we recognise that there is still more work to do.

Let’s close the gender super gap together

Closing the gender super gap requires effort from super funds, employers, policymakers, and society as a whole. Employers, in particular, have a crucial role in creating workplaces that provide equal opportunities for women's career growth and financial advancement. By taking these steps, employers can make significant progress in reducing the gender super gap. Not only will it benefit individual employees, but it will also contribute to a more inclusive and prosperous work environment.


*ASFA Pre-Budget Submission for the 2024-25 Budget 
^ASFA Pre-Budget Submission for the 2022-23 Budget 

Past performance is not a reliable indicator of future performance and you should consider other factors before choosing a fund or changing your investments.  

This information is general advice only and does not take into account your particular financial needs, circumstances or objectives. You should consider your own investment objectives, financial situation and needs and read the appropriate Product Disclosure Statement and Target Market Determination before making an investment decision. You may also wish to consult a licensed financial adviser.