Claims cutting super will hurt retirement plans of Gippsland women
Industry Super Australia says an alarming gender super gap sees the typical Gippsland woman retire with almost $160,000 less super than men.
The industry super fund says without urgent action to arrest the slide, women will keep falling further behind.
Gippsland women on the cusp of retirement have a median super balance of just $145,700 – well below the $545,000 needed for a comfortable retirement," Industry Super Australia advocacy director Georgia Brumby said.
These stark figures highlight the need to lift the super rate as legislated from 9.5% to 12%, according to the superannuation fund. They say women on middle to low-income are the most likely to get the legislated super boost, lifting the rate is part of the solution to fix the gender imbalance and will give women the financial power to choose how they live in retirement.