Super women

For many women, superannuation and retirement funding is something which is, more often than not, provided by a husband. But with more women in the workforce, some often the family’s main breadwinner, taking control of your superannuation can’t happen quickly enough.

Superannuation for women often follows a different pattern to those of men. Career-breaks to raise children, part-time work and less earning potential may make it difficult to accrue the necessary superannuation balance to fund your retirement. Understanding how to make the most of what you have, and how to take advantage of government initiatives, can result in a few more dollars in the retirement coffers.

Low earners, which many women have traditionally been, can boost superannuation balances by choosing the correct fund, utilising the government’s co-contribution and spousal contributions. And for those women fortunate enough to earn a substantial income, salary-sacrificing will not only boost your super balance, but can also reduce your tax liability.

The Office for Women and the Australian Tax Office have developed a brochure, Women and Superannuation – taking control of your future, aimed at assisting women’s understanding of the government’s superannuation initiatives and how different life stages can affect balances.

Download a copy of Women and Superannuation – taking control of your future.