• FWX Sept qtr 2023  78.1
  • FWX yr-o-yr  1.91
  • FWX qtr-o-qtr  1.5
  • ASX 200 Boards years to equality  5.7
  • Underemployment years to equality  19.9
  • Superannuation years to equality  19
  • Gender pay gap years to equality  24.3
  • Employment years to equality  26.7
  • Unpaid work years to equality  44
  • Education years to equality  138.9

Steps to closing the superannuation gender gap

Progress has been slowing in closing the superannuation gender gap so here’s some steps that you can take to speed things up!
June 5, 2023

Women are (slowly) closing the superannuation gap but a lot more work needs to be done with all of us having a role to play!

New research from Roy Morgan shows that over the last decade, women have been closing the ‘gender superannuation gap’ on men both for ownership levels and average balances.

In 2012 only 66.2% of females had superannuation, compared to males with 74.8%, a gap of 8.6 percentage points (ppt). But that gap has since reduced to 3.9 ppt with females 70.9% and males 74.8%.

Over the last decade the average superannuation balance of females aged 14 years and over, grew by 38% to $154,000, compared to males with an increase of 26% to $216,000.

The median life superannuation balance, which identifies the middle value, shows that women hold $50,000 compared to $67,000 for men in their accounts, based on the latest superannuation figures by the Australian Bureau of Statistics (ABS) early in 2022.

Closing the superannuation gender gap on balances and ownerships has been slow

Average Superannuation Balance and Ownership Level – Females vs Males

Source: Roy Morgan Single Source (Australia)

Lower female income impacts the accumulation of superannuation at all ages

There are many factors playing into the superannuation gender gap and the two big ones are time spent out of the workforce caring for children and the gender pay gap.

The following chart shows that females with superannuation who currently work have an average income of $72.8k compared to males with $95.3k.

Females aged 18-24 on average earn 85.8% of the wage of males of the same age – the closest income gap for any of the age groups. This figure drops to only 70.6% for females aged 65+.

Average Income of Workers1 with Superannuation – Males vs Females

Source: Roy Morgan Single Source (Australia)

So what steps can be taken to closing the superannuation gender gap

We spoke to the CEO of Super Fierce Trenna Probert for some suggestions on how individuals can close the super gap.


  1. Top up your super – Salary sacrifice or make after-tax contributions (especially if you intend on taking time out of the workforce).
  2. If you’re not working, look into spouse contributions so you don’t fall behind.
  3. Check your insurance cover – Are you paying for insurance through your super? Are you covered for Death and TPD? Need income protection? Make sure you have the right cover at the right price. Don’t waste your precious super savings on fees!
  4. Make sure your beneficiaries are up to date. That’s the people (or pets!) who will receive your super assets if you pass before you can enjoy those funds – sorry, but you gotta prepare for the worst as well as the best. Remember, binding beneficiary nominations can expire every 3 years so make sure they’re up to date.
  5. Review! Each year when you get your statement check all your details are up to date – and make sure your fund doesn’t make it to the loser list!


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June 5, 2023
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