Two new guides are available to help women gain the most from their superannuation.
The Women and Superannuation publications are: Four Super Steps Towards Securing Your Future and Understanding and Managing Your Superannuation.
Produced by the Department of Local Government and Communities in partnership with Women in Super and WACOSS, the publications provide women with four easy steps to make the most of their superannuation contributions and potential:
- Find lost super – if you have had more than one employer, you may have more than one super account that has your money in it.
- Rollover or combine super funds - multiple super funds can mean you pay more fees and lose track of your hard-earned money.
- Consider your investment options - different options grow your money at different rates and have different levels of risk.
- Make extra contributions - even small extra contributions can make a big difference to your super balance.
Recent research has shown a woman’s average balance of $68,600 is just over 60 per cent of the average balance for men.
Some of the contributing factors to women having less super than men include having lower average salaries, taking time out of work for caring duties or working part-time.
The guides offer detailed practical advice about addressing these issues to attain a more secure retirement.