Women and Super
When it comes to super, women usually come off second-best. And did you know that women are retiring with nearly 47% less super than men*?
There are a number of reasons why women in Australia are likely to retire with less super than men. Inequality in pay can be experienced, along with breaks from the workforce, which results in less income earned. Women also tend to live longer than men, and are therefore in need of more money to finance their retirement years.
On average, women earn less than men – even nowadays – and therefore, since compulsory employer contributions are based on a percentage of wage, women accumulate less super. This gender pay gap has been stuck between 15% and 19% for two decades2 with women still paid less than men in many industries, despite modern laws and changing attitudes. A woman’s working life is commonly interrupted by maternity leave and time off to raise their family – not to mention, it’s often women who also take time off to care for elderly parents.
We’re Here to Help
We’re an industry super fund with a female membership of over 60% and we are here to help our members and community take control and achieve the retirement they dream of.
Steps You Can Take
With these simple steps, you can take control of your retirement finances and your future. It’s easy to get started:
Save money and more by finding and combining your super accounts. We can help you find and combine your super accounts to REI Super. It’s quick and simple.
Even small additional contributions each month can make a big difference to the size of your super account. Especially with compounding interest which will boost your account savings without you having to do anything.
If you have a partner, chat about how they can help boost your super by making a spouse contribution to your super account or arranging contribution splitting from their employer.
If you’re not on a high income, you can grow your super faster by getting a little boost with a Government co-contribution.
Are your super investments in the right options? Are you invested in a conservative option when you should be in growth? Take our investment Risk Profile quiz.
As life changes, regularly review your insurance to ensure you still have the right level of cover. Review your insurance annually or whenever you have a major life event that impacts your personal financial commitments.
As an REI Super member, you have access to professional financial advisors who can tailor advice to suit your needs. Call us today 1300 13 44 33.
Start today. Take control of your finances and join our community of financially empowered women in real estate. To Learn more, click on the below links:
Women in Super – The facts about women and superannuation
- Industry super – Women and superannuation
- gov.au – how to grow your super (it’s never too late to start)
- ATO – Understanding super
Not a REI Super Member?
We’re an industry super fund open to all Australians. From starting out in your first job through to retirement, our products and services are here to help you get the most out of super for a comfortable retirement. Some of the benefits you will enjoy include:
- Strong history of long-term returns;
- Members first (profits returned to members);
- Tailored insurance that covers commissions;
- Access to simple advice at no additional cost;
- Comprehensive financial advice and planning;
- Transition to retirement; and,
- Mobile app to track your super and contribution payments
Disclaimer: The information contained on this webpage does not constitute financial product advice. However, to the extent that the information may be considered to be general financial product advice, REI Super advises that REI Super has not considered any individual person’s objectives, financial situation or particular needs. Individuals need to consider whether the advice is appropriate in light of their goals, objectives and current situation. Members should obtain and read the Product Disclosure Statement for REI Super before making any decisions. REI Superannuation Fund Pty Ltd ABN 68 056 044 770 AFSL 240569. RSE L 0000314 REI Super ABN 76 641 658 449 RSE R1000412 MySuper unique identifier 76641658449129. January 2021.