ASFA targets International Women’s Day
The Association of Superannuation Funds of Australia (ASFA) is using International Women's Day to call on employers to help women take control of their superannuation.
ASFA chief executive officer Pauline Vamos has called on employers to give women an hour out of their working day to focus on super, which she said would be an important step to help busy working women close the gender gap.
"Still nearly 90 per cent of Australian women have insufficient super to support a comfortable retirement," Vamos said. "For many women, finding the time to take control of their super is a real struggle. By giving women this time on International Women's Day, we are taking an important first step to helping women close the superannuation gender gap and take control of their super."
Inequalities in salaries — combined with the financial impact of maternity leave — mean women hold only 37 per cent of total superannuation balances, compared to 63 per cent of men, Vamos added.
A recent survey conducted by Suncorp and ASFA found the gender gap was furthered by the fact that 81 per cent of women report having no active engagement in their super.
The association has recommended three steps women can take to start closing the gap: consolidating super accounts; taking an active interest; and making voluntary contributions.
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