I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Reasons why Women Get Left Behind in the Super Transformation Process

Women can enjoy the benefits of superannuation if they are active in the process. Sadly women are held back in this regard, and it is important for them to understand what is happening to boost their super.

Women and Superannuation Facts

• The average income of a woman is 17% less than a man. So there is a significant wage disparity between the genders. Over time, this number will add up. A research study mentions that an average female who worked full time, without any created breaks or gaps, they will likely retire with $300,000 less super than the average man. That's a disparity wage kicking in.
• Superannuation balances at retirement age for women are typically less than half the balance of men. If you think about $300,000, that's such a significant amount. That's even higher than the average female account balance.
• Australian women retire with a super account balance of just $149,000. We would typically see this in the fund at the national level. This balance of $149,000 won't even provide the annual income of $40,000 a year. So the reality is women are giving to be living a less comfortable retirement life. Poverty could be a factor as well if we don't try to make this situation better.
• The average retirement age for women is 50.
• The number of years women need to support themselves with their super of Age Pension is 34 years.

The Reasons Why

• Women live longer than men.
• Women have career breaks due to having children or caring for aged parents. And women are not really to be blamed for this because it is important to caring for a family. But they can impact your superannuation.
• Increasing divorce rates lead to women becoming primary caregivers of children, and are only granted home settlements instead of money, making them asset rich but cash poor.
• Women earn less than men.
• Women often work part-time or reduced hours
• Lower contributions
• Lower compounding effect

Not everything about your superannuation is bad. You can tap into the more positive side into super as well. There are solutions than you can put in place to help improve your chance at a comfortable retirement.

It is time to get financially educated. You can take the first step by seeking the advice of the experts at www.australiansuperfinder.com.au. If you are having problems with your superannuation, you can call their experts at 1300 252 167

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