Advocates argue that more needs to be done to address the issue, as recent tweaks to superannuation tax offsets for low-income earners will have a minimal impact on the quarter of women who retire in poverty.
Rosemary, a 60-year-old mid-level manager at an aged-care home in Victoria, is concerned about her own financial future. She says,
I'll have to work for as long as I can, however long an employer will keep me.
Rosemary's situation is not unique, as many Australian women approaching retirement age face similar financial uncertainty. She took a 10-year break from the workforce to raise her children, and after their father left, her career and superannuation savings were affected.
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Author's summary:
This article highlights the struggles of Australian women in retirement due to the superannuation gender gap.