Aussie women face ‘poverty’ in retirement
WOMEN are more than twice as likely to spend retirement in poverty than men and the upcoming Federal Budget must address this, a superannuation industry expert claims.
Nerida Cole, head of advice at self-managed superannuation fund Dixon Advisory, referred to a 2016 report by the Senate Standing Committee on Economics, saying an almost 50 per cent gap between the superannuation balance of men and women at retirement needs urgent attention.
“Women face challenges at retirement due to lack of affordable housing and work patterns, which have not supported building a strong super balance,” Ms Cole said. “We hope to see proposals in this year’s budget address these areas.”
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