The gender super gap, according to where you live

The financial gap between men and women exists on many levels – from investments, to salary, to superannuation.

The typical Australian woman has on average 30 per cent less super than men, new research from Rice Warner commissioned by Women in Super shows.

But depending on which state you live in, the difference could be higher or lower than that.

Bad news if you’re a woman in Western Australia – the super savings gap is worst in this state at 39 per cent, followed by Queensland at 34 per cent.

If you’re a woman living in the Northern Territories, consider yourself lucky – the gap is lowest in your state, but it’s still 16 per cent.

Women in the ACT have 20 per cent less super than men.

In the Premier State, the savings gap is slightly lower than the national average at 26 per cent.

But women in Victoria, home to the second-largest city of Australia, see a savings gap slightly above the national average at 31 per cent.

Here’s that in a chart:

The gender super gap in each Australian state

(Source: Rice Warner/Women in Super)

Women in Super national chair Cate Wood noted the high percentage figures across the nation and pointed to lawmakers’ role in addressing this.

“Better policy is needed if we are to make a difference to the retirement outcomes of all Australian women,” she said.

“We have tinkered around the edges for too long.

“It is time to implement structural changes that deliver real improvements for women.”

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Source link Finance News Australia

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