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Simple steps to help sort your super
Did you know that around 80 per cent of women are currently retiring with insufficient superannuation savings to fund a comfortable lifestyle? In fact, the average superannuation account balance for women when they retire is around $70,000 less than the average for men. There are a number of reasons why this is the case. For example, many women take time out of the workforce to have children or care for family members, and they are also more likely to be in part-time or low-paid employment. Women also are less likely on average to receive the benefit of contributions above the compulsory SG rate. No matter what the reason is, there’s no doubt women have a much bigger task when it comes to saving for their retirement. This is why it’s important all women take simple steps to help boost their super savings.
Taking sixty minutes today to sort to your super could add thousands to your retirement savings.
Here are three simple steps you can take:
Did you know one in five women do not know how to consolidate their superannuation accounts?
See our Consolidating your super page to find out how simple it can be.