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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Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
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.