Ending super gender gap needs collective approachBY LAURA MILLAN | FRIDAY, 11 DEC 2015 12:19PMOne single strategy will not be enough to end the superannuation savings gap between men and women, industry stakeholders have concluded. Related News |
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Of course women will have lower average account balances at a given age than men, assuming that they take time off work during their child bearing years.
However women also have a 2-year longevity advantage over men, meaning that for each gender to have equal periods in retirement then women should retire at an age 2 years later than men. Those later 2 years of extra contributions, plus the compound interest on their account balance, will make up for their earlier periods of unemployment.
Now that is the way to true Gender Equality.