Women and Retirement

"I find that it helps to break down the big picture into smaller achievable tasks and to recognise and celebrate these achievements along the way."
-Katherine Hann
May 31, 2016

Women and Retirement

By Katherine Hann

Women and Retirement

Women and Retirement-face your future!

Many Australian women face an insecure retirement. Men’s superannuation balances at retirement are on average twice as large as women’s.

In practice this means that women, particularly single women, are at greater risk of experiencing poverty, housing stress and homelessness in retirement.

The combination of the gender pay gap, time out of full time work and a concentration of women in lower paid occupations mean women are retiring with approximately
half the superannuation of men.

Some of the key recommendations in regard to superannuation are:

• Superannuation guarantee should be paid on the Commonwealth Paid Parental Leave Scheme.

• Superannuation tax concessions assist people with lower superannuation balances.

• The Australian Government retain the Low Income Superannuation Contribution beyond 30 June 2017.

• Increase in the superannuation guarantee rate to 12 per cent, and earlier than planned.

• Pay the superannuation guarantee to employees whose salary is less than $450 in a calendar month.

As a woman and a financial adviser, I feel strongly that the Australian Government support the unique needs of women preparing for their retirement, no
matter what their age.

It is never too late to prepare and with the help of a financial adviser you will be in the best place possible to retire with dignity, grace and a position
of financial strength.

Contact Katherine Hann on 08 8299 9927 or email katherinehann@internode.on.net to make an appointment.