For over 20 years, economic Security4Women has engaged in civil and government dialogue on all the reasons why narrowing the gender superannuation gap is imperative for women to achieve lifelong economic wellbeing.
Their white papers on Defining the concept of economic security for all women (2018)and Issues relating to the economic security for all Australian women (2020) provide evidence on what women need to achieve financial security in retirement. This paper suggests that the following issues must be addressed through policy reform to close the gap in superannuation balances between men and women.
- Eliminate the gender pay gap
- Access to affordable and accessible childcare
- Ongoing superannuation contributions for absence from workforce
- Ongoing investments in skills, training and education
- Rising female workforce participation
- A liveable pension for those women who, for whatever reason, do not accumulate sufficient superannuation