When it comes to retirement planning there are a lot of terms and concepts that can be confusing. In this series we’ll help demystify some of the key terms you need to know. Admin fees: These are the fees charged by the administrator of your superannuation fund. They can vary depending on the fund. It’s important to be aware of them and how much you are being charged. ASFA: The Association of Superannuation Funds of Read more
How to overcome the gender pay gap and save for retirement? There’s no one answer to the question of how to overcome the gender pay gap and save for retirement. But there are a few key steps that can make a big difference. For starters, it’s important to understand the gender pay gap and how it affects you. The gender pay gap is the difference between what men and women are paid for doing the Read more
More than 80% of women in Australia will not have enough saved to fund a ‘comfortable lifestyle’ at retirement. Women on average will retire with $70,000 less than men. Half of all women aged 45 to 59 currently have less than $8,000 in their super funds. The average superannuation payout for women is roughly a third of that for men. $37,000 for women compared to $110,000 for men. (Sources: https://humanrights.gov.au/our-work/gender-gap-retirement-savings & https://www.superguru.com.au/about-super/women-and-super) For most women, Read more
