MLC calls on women to focus on super
MLC has used the lead-up to the International Women's Day to raise awareness about superannuation and the amount of money women will need in retirement, encouraging them to seek financial advice.
The company pointed out women usually retire with 40 per cent less super than men, which puts even their basic lifestyle at risk. Additionally, one in four women will have little to no super at retirement age.
"While the issue is on the minds of most Australians, people are not doing enough about planning for their retirement, particularly women who have a larger savings shortfall than men," said MLC spokesperson Lara Bourguignon.
"International Women's Day is about empowering women financially and so it's a great reminder for women to take some small steps today to make sure they have enough superannuation to last through retirement."
Seeking financial advice is one of the ways women could help boost their super, MLC said. Other tips the company listed include awareness (thinking and reading about super), consolidation, salary sacrifice, co-contribution and investing in a pension product.
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