Link here. Excerpt:
'This research, How Australia Saves – a collaboration between Vanguard and Sunsuper – draws on the transactions and investment experiences of more than a million Sunsuper members.
...
As research by actuaries and consultants Rice Warner shows, average super balances are higher for males than females in all age groups. However, the gap "increases markedly" from age 35 when the majority of women take time off to have children and may lose opportunities for promotion at work.
After interrupting their careers to raise families, women often have difficulties returning to the workforce at an acceptable level. And one of the fundamental reasons for the retirement-savings gender gap is that women have lower average incomes than men.
Further, women frequently struggle to restore their finances after divorce because of family obligations and, again, their lower average incomes. Yet women have to stretch their retirement savings over longer life expectancies than men.
As Rice Warner has emphasised, potential solutions for the retirement-saving gender gap will have to come from the combined efforts of government, super funds (with education and advice), employers and individual members.'
