Supporting women to grow their super

Women in Australia are retiring with 28%less super than men, a disparity driven by gender pay gaps and unequal career opportunities. At legalsuper, we're not just observing; we're actively working to bridge this gap, advocating for change to ensure superannuation safety nets are accessible to all, irrespective of gender. 

1 Source: KPMG on Gender Superannuation Gap

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What causes the super pay gap?

  • Wage gap:
    On average, women earn 21.7%2 less annually than their male counterparts. The significant difference highlights the urgent need for wage equality.
  • Caregiving responsibilities:
    Women represent on average over 70%3 of primary caregivers. This often necessitates extended breaks from their careers, directly impacting their superannuation accumulation.
  • Part-time work:
    A higher proportion of women in part-time or casual positions.
  • Lack of flexible work arrangements:
    A lack of flexible work arrangements restricts earnings and career growth.
  • Inequality and tax advantages:
    Historical biases and a disproportionate distribution of tax concessions further deepen the superannuation gap. Such disparities reflect systemic issues that need addressing.
  • Compound interest:
    The effect of compound interest means that men's more considerable initial savings grow more significantly over time, further widening the super gap.

Sources: 2 Workplace Gender Equality Agency (WGEA) , 3 International Women's Day

Strategies to help women grow their super

Empowering women through education and strategic planning is pivotal in bridging the gender super gap. We're dedicated to providing the resources and advice our female members need for a financially secure retirement.

Begin with the end in mind. Utilise our tools and calculators to outline your retirement needs precisely.

Knowledge is power. Dive deeper into how your super is invested in making decisions that align with your long-term retirement goals.

Every extra dollar counts. Explore making voluntary contributions through salary sacrifice or non-concessional contributions to substantially increase your super balance. These contributions can make a big difference in the long run, leveraging the power of compound interest.

Navigate the complexities of superannuation with expert guidance.

Our Client Services team is here to help you develop personalised strategies that cater to your unique goals, including maximising government incentives to enrich your super.

By actively engaging with these strategies, you can take meaningful steps towards closing the gender super gap and securing a brighter financial future. Remember, the journey to a comfortable retirement is a marathon, not a sprint, and we're with you every step of the way.

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The positive impact of compound interest on super

Compound interest and super's favourable tax treatment significantly enhance retirement savings. This effect contributes to the disparity between the super and wage gaps. Awareness of the impact of compound interest is essential for anyone’s super strategy.

For example, using MoneySmart’s compound interest calculator, an investment of $20,000 in super in 1985 could have grown to $133,191 today*. This significant growth illustrates how compound interest can dramatically increase super balances over time, emphasising the crucial need for women to incorporate this into their retirement planning strategies early on. 

*Past performance is not a guide to future performance. Calculation figures and assumptions are available on the MoneySmart website. 

Challenge the super gap

Closing the superannuation pay gap is a critical step toward achieving gender equality in retirement outcomes. Our efforts are multifaceted, grounded in collaboration, advocacy, and internal policies to foster an inclusive super system. 

We proudly partner with Women In Super and the  Australian Council of Superannuation Investors (ACSI), organisations at the forefront of advocating for a superannuation system that eradicates gender-based disparities.  

Through Women In Super, we champion superannuation and paid parental leave reforms, push for workplace gender equality, and advocate for including more women on super fund boards.  

Our collaboration with ACSI amplifies our voice in promoting gender diversity across boards of ASX-listed companies, addressing Environmental, Social, and Governance (ESG) issues that intersect with our mission. 

Our dedication extends beyond external partnerships; it is deeply embedded in our organisation's fabric through our internal diversity policy.  

This policy is a testament to our commitment to gender equality, guiding our efforts to eliminate bias against women within our organisation and the broader superannuation industry. 


Need more help? Contact our Client Services team

As a member, you can get personalised support from our Client Services team at no cost or obligation to assist with your retirement goals.
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