Women and superannuation — what you need to know
Superannuation is one of those things that is easy to put off thinking about — it's abstract, it's far away, and when you're dealing with more immediate pressures, retirement can feel like someone else's problem.
But super is where a significant part of your long-term financial security sits. And for women in Australia, the picture is genuinely concerning — which is why it's worth understanding now, even if you're in the middle of something hard.
The gender super gap — what it is and why it exists
On average, Australian women retire with significantly less superannuation than men — roughly 30% less, depending on the age group. That gap has real consequences for financial independence later in life.
It exists for a cluster of interconnected reasons:
Women earn less on average than men throughout their working lives — the gender pay gap means lower employer contributions over time
Women are more likely to take time out of the workforce for caregiving — parenting, caring for ageing parents — during which super contributions pause or reduce
Women are more likely to work part-time, particularly when raising children
Women live longer on average — meaning super needs to stretch further
None of this is your fault. But knowing it means you can make more informed decisions about how to address it.
How super works — the basics
Your employer is required by law to contribute a percentage of your earnings into a superannuation account on your behalf. From July 2024, this rate is 11.5% (rising to 12% in 2025). This money is invested on your behalf and grows over time, available to you when you reach preservation age — currently 60 for most people, with full access at 65.
You can have multiple super accounts — often accumulated from different jobs — and consolidating them into one can reduce fees and make your balance easier to track. You can find and consolidate accounts through myGov linked to the ATO.
What happens to super during separation
Superannuation is treated as an asset in Australian property settlements. This means your partner's super — as well as your own — is part of the pool of assets that can be divided on separation.
This is significant. Even if one partner did not work, or worked part-time, they may be entitled to a share of the other partner's superannuation as part of a property settlement.
Super splitting is a formal legal process that can be done as part of a consent order or court order. A family lawyer or Women's Legal Service in your state can help you understand whether this is relevant to your situation.
What you can do now — at any age
You don't have to be near retirement for this to matter. Small actions now compound significantly over time.
Check your super balance — log into myGov and link to the ATO. You'll see all accounts registered in your name, the current balance, and whether your employer is contributing correctly.
Consolidate multiple accounts — multiple accounts mean multiple sets of fees eroding your balance. Consolidate into one, ideally the fund with the best performance and lowest fees for your situation.
Check your insurance — most super funds include life insurance and income protection by default. Check what's included in yours and whether it's appropriate for your circumstances.
Make voluntary contributions if possible — even small additional contributions can make a meaningful difference over time. If you're self-employed or not currently working, you can make personal contributions and claim a tax deduction.
Review your fund's performance — not all super funds are equal. The ATO's YourSuper comparison tool (ato.gov.au/yoursuper) allows you to compare funds and switch if yours isn't performing.
If you've taken time out of the workforce
The years you spent outside paid employment — raising children, caring for family members — represent a real cost to your super balance. Some things that may help:
Government co-contributions — if you earn under a certain threshold and make personal after-tax contributions to super, the government may also contribute. Check the ATO website for current thresholds.
Spouse contributions — if you have a partner who works, they can make contributions to your super account and may receive a tax offset for doing so.
Catching up — from 2019, if your super balance is under $500,000 and you haven't used your full concessional contributions cap in previous years, you can make larger contributions to catch up. A financial adviser can help you understand how this works in practice.
Getting advice
Super is genuinely complex, and personalised advice makes a real difference. A financial counsellor can give you a starting point for free. If you want more detailed planning, a fee-only financial adviser (one who charges a flat fee rather than earning commissions) can help you understand your specific situation.
The most important thing is not to leave it. Every year matters.
Help for Her provides general information and guidance only. This is not financial advice. For advice specific to your superannuation, speak with a qualified financial professional or visit ato.gov.au.