Why does the super gap exist? 

The main reason women are retiring with less is because they tend to earn less than men over their working lives. Australia’s gender pay gap has been stuck between 13% and 19% for two decades,³ with women still paid less than men in many industries, despite modern laws and changing attitudes.

On top of this, women taking time out to care for their families and living longer translates to women retiring with 25% less super than men.¹

Small steps to improve your financial wellbeing

Chances are, your super will be one of your main sources of income when you wind down work. The more your superannuation balance grows through super contributions and investment earnings, the more money you’ll have for your life after work.

Here are some ways you can get ahead.

• Check your super balance and payslips regularly to ensure you’re being paid super.
• Check your contract and entitlements when you start a new job.
• Ask for a pay rise and consider adding any bonuses or pay bumps into your super account.
• Explore spouse contributions if your partner is earning more than you, as you could both benefit financially.
• Learn and engage with super and finance with other women.
• Ask your super fund how they support women and super.

The benefits of contributing to your super

It’s important to not treat super as something you only need to think about when you retire. Contributions from your employer alone may not be enough to fund your post-work life. Making additional contributions to your super account can result in a significant difference to your financial future — even contributing small amounts adds up over time.

Some of the benefits may include:

• Paying less tax. Putting extra into your super before-tax could lower your taxable income.
• Earning more over time. Your super is invested, so the earlier you contribute, the more potential for growth through the power of compound interest.
• Government support. See if you’re eligible to receive up to $500 extra from the Government’s co-contribution scheme.
• Greater financial freedom. More super means greater financial freedom for you in retirement.

Seek financial advice through your super

We know it can be difficult to seek help with your finances and preparing for life after work. Plus, women are less likely than men to seek financial advice. That’s why we’re here to help and guide you right through to your future lifestyle.
It’s all part of your membership,⁴ so get started and call us on 1800 005 166.

Information correct as at 20 February 2025.

¹ Association of Superannuation Funds of Australia. (2023, July 12). ASFA urges action to close the retirement savings gender gap [Press release]. https://www.superannuation.asn.au/media-release/release-12-july-2023/ 
² Australian Bureau of Statistics. (2023, November 8). Life expectancy. https://www.abs.gov.au/statistics/people/population/life-expectancy/latest-release 
³ Workplace Gender Equality Agency. (2022). Australia’s Gender Pay Gap Statistics. Australian Government. 
https://www.wgea.gov.au/sites/default/files/documents/Gender_pay_gap_factsheet_august2021.pdf

⁴ Advice is provided by CareSuper Advice (ABN 78 102 167 877, AFSL 284443). A copy of the Financial services guide for CareSuper is available at caresuper.com.au/fsg.