Australians undecided about higher super for womenBY DARREN SNYDER | TUESDAY, 10 NOV 2015 12:06PMIt appears Australians are undecided whether women should be paid a higher rate of superannuation to address the current retirement savings gender gap. Related News |
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Katie Petering
DIRECTOR, MULTI ASSET
BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED
BLACKROCK INVESTMENT MANAGEMENT (AUSTRALIA) LIMITED
Proving to her parents the worth of their sacrifices and some well-timed advice from a former manager have provided the momentum behind Katie Petering's career success. Matthew Wai writes.
A quick fix for this so-called "gender gap" - we should aim for all people to have say 15 years in retirement, based on average life expectancy (which for males is approximately 82 and females 84). This means that the male "retirement age" should be 67 and for females, age 69. Those extra years of SG contributions for females will compensate for the time off they may have had earlier in their careers, while supported by their partners and any maternity leave entitlements.