Kaye discusses the life-course disadvantages of super

Kaye talks to ABC News Radio about the challenges faced by female retirees.

Kaye discusses the life-course disadvantages of super

Kaye had a chat with Loni Cooper at ABC News Radio last week, covering the life-course disadvantages of super, the difficult circumstances faced by many Australian women in retirement, and offering her take on how this may be overcome.

Listen to Calls for government to address superannuation bias or Download audio

Are you a woman who is struggling in retirement? What do you think about proposals that may help boost your retirement income?

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    COMMENTS

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    cupoftea
    15th Mar 2018
    10:45am
    If I remember correctly the harvester judgement in 1911 where the award for wages was for a metal worker, married with 2 kids so the second income was for women working in pubs etc correct me if I am wrong
    dee
    15th Mar 2018
    5:01pm
    In 1907, the Harvester Judgement set a minimum wage for unskilled labourers of 2 pounds, 2 shillings per week the amount an average worker paid for food, shelter and clothing – for him and his family.



    This has persisted, It was assumed men needed more because they ha a family to support.

    A female friend of mine in the USA had to start her own advertising business because her 'Madmen' employers paid the a young man, same age same quals about 20% more in the 70's. Even when she was winning the awards this persisted.
    Tib
    16th Mar 2018
    12:41am
    What a load of rubbish , the number of women I've seen promoted way beyond their capabilities simply so the employer could say they are an equal opportunity employer is ridiculous. Women have all the advantages, these women were promoted ahead of capable men and they were basically useless and should never of got the job, and to make it worse those men who should of got the job had to end up doing the job for them. Happens all the time now.
    Tib
    16th Mar 2018
    12:46am
    Dee and by the way I've seen most of these women playing silly girly games all day instead of doing their jobs. It's disgusting to watch. Don't worry about 20% less they shouldn't of been paid at all.

    15th Mar 2018
    12:56pm
    More special pleading for women. I'm heartily sick and tired of it. Men's average superannuation is higher than women's because men work longer hours for more years. There's no anti-female conspiracy. But there sure as hell is an anti-male bandwagon rolling along at the moment.
    dee
    15th Mar 2018
    4:08pm
    Unfortunately, many women did not work or worked part-time and have ended up divorced. Some get settlements that will keep them, some don't. This is about the women who don't have a house and end up living in their car or on the street. The numbers are growing more rapidly than homeless older men. Rising property and rental prices are keeping poor retirees out of rentals, both men and women. Unfortunately, this is what the stats say.
    TREBOR
    16th Mar 2018
    12:21am
    What about the men who ended up divorced? Did the reap the 'lion's share' or did they give the 'lioness' share'?

    How many such men ended up with NOTHING for their years of toil?

    How many lived on the street or in their car?

    More Than Women Did!
    Tib
    16th Mar 2018
    12:27am
    Dee what BS, by saying the number of homeless women is growing faster than men you try to ignore the fact almost all homeless are men. Just so women can be a victim here as well. I notice that now they are also claiming women who live in someone else's house are homeless as well. Just feminists playing with numbers as usual. The real homeless are the ones living on the street , sleeping rough and almost all of them are men. So take your feminist BS somewhere else.
    Rae
    16th Mar 2018
    10:05am
    That's right dee. These women did not work or chose part time work.

    I raised three kids alone and worked full time. Worked two jobs.

    Through hard work I paid the mortgage and saved for retirement.

    If people chose to not work then why does that deserve special consideration.

    Women are still choosing to not work and stay home playing house and babies.

    It's incredibly indulgent to then complain you don't have savings.

    Women with no savings will have to finally compromise. Move to cheaper areas, organise share house arrangements or get the kids to support them finally if raising the poor darlings required 24/7 effort that means mum has no money saved.

    The aged pension is adequate if you live in the affordable places.
    Tib
    15th Mar 2018
    2:52pm
    My usual answer ....get a job work harder and you too will have super like a man. Instead of excuses and asking for special treatment. Women always have trouble with money , because they spend it all, a women with a bankcard is like giving a child a gun. Women never get sick of whining.
    dee
    15th Mar 2018
    4:30pm
    I'm ok. I've got my super. Paid the same as a man in my position. However I didn't get to my current position until in my 40s and I was also casual when my kids were babies so my super is probably 10 years behind a man in the same position as me. But as the head of a department in a school, I've also seen how it is so much easier for a young man to get promotion. One particular young man and his wife have chosen for her to stay home with the 3 kids while he pushes his career ahead. Another young woman working alongside him has just gone through 5 years of her child rearing before she could get that promotion. She has had to use more sick leave to take care of sick children, she has had to leave various things earlier because her husband works various shifts etc. The young man just rings up the wife and says "I have to work back a bit longer'. He is 10 years in front of the woman as far as promotion goes. I guess women could/should choose career over marriage and children and then would have a fighting chance of being in an equal starting position. At least these days super isn't an option (unless you're casual or part-time as many women are because of family commitments). Many women my age made the choice with their husbands not to pay super and they are now left holding the baby.
    Cowboy Jim
    15th Mar 2018
    8:50pm
    Hey Tib, tell that to the women you live with and you will experience plenty of hot tongue and cold shoulder for a while!!
    Tib
    16th Mar 2018
    12:18am
    Dee Most women these days are living on their husbands super if they're still married and if theyre divorced they took most of everything he had so they should be able to live comfortably on that. That is of course if they didn't spend it all. Which they probably did.
    TREBOR
    16th Mar 2018
    12:22am
    Tib got it right.....
    Rae
    16th Mar 2018
    10:18am
    Making the choice to not save has serious consequences.

    Young women today should be informed of this.

    I saved outside super $1 for every $10 I got because I was taught it was a very sensible thing to do and would help build retirement savings. It also meant there was money for emergencies.

    I still do it. I do it first. No you won't miss the money because it hasn't been spent. It's still there.

    I also couldn't take promotion as a widow with three little kids I didn't have extra time to commit for the few dollars extra. I took a second job instead as that made more money. Then I started a business.

    The problem is not being able to think ahead and see consequences.

    Then not being willing to compromise when lifestyle has to change because the choices made have undesirable consequences.

    We should be asking why women put men ahead of themselves when considering family commitments. If they are doing this then a dedicated saving account for the woman and the husband paying something into it regularly makes sense doesn't it.

    Women are their own worst enemies when it comes to men for some strange reason.
    Tib
    16th Mar 2018
    11:53am
    Rae it's not women putting men before themselves but the other way around and it's easy for women to do nothing for themselves if their husband it doing everything for them. Even accepting the blame when everything is not as she would like it. And it's no use giving a women a bank account if all she does is empty it buying silly frivolous junk. Then telling herself she deserves it, how often have men heard this, all the time.
    Tib
    16th Mar 2018
    12:02pm
    Rae by the sound of it you have had to grow up, most women have remained the child in relationships while the husband has been stuck with all the adult decisions and most of the sacrifices. Trust me when I tell you men don't want it this way and don't want the burden of a woman child.
    Tib
    15th Mar 2018
    3:03pm
    Having not enough money in retirement is not a gender issue. Why should a woman who is broke in retirement get more support than a man who is broke? Really tired of your whining and demands for special treatment.

    15th Mar 2018
    3:27pm
    What the "h&ll" is superannuation bias ???

    Super contributions by an employer is set in law

    Tell me which employer pays less super to women than to men

    Is Kate proposing that women should get paid more salary and super than men???

    What about the men who work in less well paid jobs, should we top up their super too???
    Oh wait - I have a better idea - lets pay everyone the same, irrespective of what job they do and whether they are actually working or unemployed or just sitting at home and playing with the kids
    dee
    15th Mar 2018
    4:38pm
    Yes, anyone who hasn't paid enough super or had a low paying job, or just bad luck, should be assisted to stay off the streets with some sort of housing assistance. Today's rent in over-inflated housing markets make it very difficult to survive on a pension.
    TREBOR
    16th Mar 2018
    12:23am
    I smell a back-track there, dee...
    Rae
    16th Mar 2018
    10:23am
    Dee you can't afford to live in some areas if you didn't make the commitment over time. Or live on your own terms.

    There are plenty of places where the OAP and rent supplement will allow a comfortable but frugal living.

    The current rents due to crazy house prices do make it very hard.

    Most non savers will now have to compromise unfortunately because they chose not to back when they had the choice decades ago.
    MICK
    15th Mar 2018
    6:12pm
    Some people have managed to bleed the system and double dip with super. The well heeled and the top end from all accounts get their super and it is not included as income of any sort. Comment?
    Rae
    16th Mar 2018
    10:31am
    I think they fixed that with the $1.6 million cap.And the $25 000 annual limit.

    If you are to tax super then the portions that have already been taxed at either 15% or full income tax levels for after tax contributions would have to be sorted.

    We tax super going in and in there but not coming out.

    Other countries do not tax going in or in the fund but tax coming out.

    Personally I think they need to give retirees and super a miss for changing anything for a year or two as it's been done to death recently.

    My income is actually counted in the income test and prevents me receiving an OAP or discounts.

    Some is super and some from outside investments still fully taxed.

    I like the tobin tax idea myself as it is equitable and would capture all money no matter what it's classed as.
    TREBOR
    16th Mar 2018
    12:17am
    All well and good - but how does it address the reality that 71% of men will retire with nothing more than the pension, but 62% of women will retire with only the pension?

    Zumdink iss

    How does this address the reality that 71% of men will retire with pension only, and 62% of women will retire with pension only?

    Zumdink iss rotten in der Schtaat off Denmark....
    TREBOR
    16th Mar 2018
    12:25am
    Huh? Bloody internet to the node by Malcolm as Minister....

    Cessnock boys are born and bred,
    Strong in the arm,
    And thick in the head.

    (the benefits of a Hunter Region upbringing)....

    16th Mar 2018
    3:48pm
    Kaye is being deceitful and disingenuous playing usual feminist card .
    Look deeper into the issue and you will see that at the end of the day , women who are or were married do better in retirement
    As for single women - there should be no difference in super
    dee
    18th Mar 2018
    11:41pm
    It's interesing how only men with an axe to grind are venting their anger here. I did not backtrack Trebor. Not once did I say that it is only women with super issues. I pointed out womens' issues. Not all issues are different. You on the other hand, seem to lump all women into the useless category. Pretty scary and thankfully not typical of most of the men I know.