A lot of people don’t realise how wide the gap between men’s and women’s retirement savings can be until later in life. By then, it’s usually harder to close. If you’re trying to figure out how to even the playing field sooner, understanding the core issues is a solid first step.
The difference in super balances often starts early. Lower average wages, part-time work, career breaks for caregiving—these things add up. Add to that fewer opportunities for bonuses and promotions, and suddenly there’s a noticeable shortfall in super by mid-career. It’s not just a matter of income. The way super is structured means any time away from paid work or lower contributions compounds over time.
How Career Breaks Affect Super
Taking time off to care for kids or elderly family members is common, and it’s one of the biggest contributors to the gap. Even just a couple of years without employer contributions can mean thousands lost by retirement. The problem is, most super growth comes from compounding. When your balance sits still, so does your future income.
If you’re planning a break, or already on one, you can still take action. Consider contributing small amounts regularly if your budget allows. Even modest top-ups—say, $20 a week—can make a difference long term. Some people also qualify for government co-contributions, especially if they’re earning less during those years. It’s worth checking.
Talk Super Early and Often
Super isn’t always front of mind when negotiating a salary or thinking about your future, but it should be. If you’re starting a new job, ask about super options. Some employers let you salary sacrifice into your super, which can reduce your tax and grow your savings faster.
Also, don’t be afraid to ask if super is paid on all types of leave. Not all companies offer this for parental leave, but those that do help close the gap. And if your partner is working while you’re not, they can contribute to your super too—called a spouse contribution—which can have tax benefits for them and help your balance keep ticking over.
Look at Where Your Super’s Going
Many people don’t choose their super fund—they just go with the default. But not all funds perform the same or charge the same fees. Take a few minutes to review your fund’s performance and fees. Switching to a low-fee, high-performing fund can significantly impact your balance over the years.
Some funds also offer services tailored to those trying to close the superannuation gender gap support services, so don’t be shy about asking what’s available. The easier it is to manage and contribute to your super, the more likely you’ll stay on top of it.
Use Tools and Projections to Plan Ahead
Ever tried a super calculator? They’re surprisingly eye-opening. You plug in your age, income, and super balance, and it shows you your projected retirement savings. Play around with the numbers. What happens if you increase contributions by just 2%? Or work an extra two years? It helps make the situation feel a bit more manageable and gives you a clearer target.
Don’t forget to check your insurance through super while you’re at it. Many funds include default insurance, but it’s not always the right fit. If you’re paying for cover you don’t need—or missing cover you do—you could be affecting your savings without realising it.
Rethinking Super Conversations in Relationships
Money talks in relationships can feel awkward, but they’re essential, especially if one partner takes on more unpaid caregiving. If one person’s super takes a hit while the other’s keeps growing, it makes sense to share the responsibility for topping it back up.
Some couples treat super like a shared asset and factor it into financial planning together. This might include topping up the lower-earning partner’s super or sharing costs equally, even when one person earns less. It’s not just fair—it’s practical. After all, retirement will affect you both.
Why Gendered Gaps Matter for Everyone
This isn’t only a woman’s issue. If half the population retires with less money, the pressure spreads on partners, families, and the system. Addressing it early helps reduce long-term stress for everyone. Plus, better financial security later in life often means more independence, more choices, and fewer hard trade-offs.
For employers and policymakers, supporting actions that reduce the super gap don’t just help individuals. It helps build stronger retirement outcomes across the board. That could mean offering paid parental leave with super, supporting flexible work, or educating employees on the impact of part-time hours on their retirement balance.
Don’t Rely on Super Alone
Lastly, it helps to remember that super is just one piece of the retirement puzzle. Savings, investments, property, and even part-time work in retirement all contribute. The key is building a mix that gives you some control and flexibility.
Want a broader look at financial preparation? You might find planning financially for retirement a helpful place to start. Super is important, but it’s not everything—and knowing how the pieces fit together makes all the difference.
Tackling the super gap takes time and consistent effort, but it’s far from impossible. The more you understand the way super works and how your choices shape your future, the more power you have to shift the outcome in your favour.