Skip to Content
Book icon. read

Women and super

Women generally earn less due to the gender pay gap and being more likely to have career breaks to raise children and care for family, leaving them with significantly less saved for their future.

Given that women have a longer life expectancy than men and actually need more money in retirement, this is particularly worrying.

Retiring with a lower super balance can leave you with a reliance on the Government Age pension, a lower quality of life and less independence.

The good news is, we're here to help

We're passionate about empowering our female members to take action today so that they can have a better outcome in retirement.

Get started now

Here are a few ways you can start closing the gap;

1. Take control of your super

If you have more than one super account, you can avoid paying multiple fees by consolidating them into one super fund. We can search for any extra accounts you may have and help you transfer them into your Prime Super account, saving you time and paperwork. Login to MemberOnline  or call us on 1800 675 839.

2. Ask your boss to pay part of your pre-tax salary into your super 

Also known as salary sacrificing, this can be a tax-effective way to grow your super. Because of the pre-tax benefits, you could be better off during tax time and save more money in the long run. You can contribute up to $27,500 per year before tax - but this also includes all contributions your employer pays such as your 11% super guarantee.

3. Make your own after-tax super contributions 

Non-concessional contributions are not subject to the 15% contributions tax that can apply to other types of contributions. Depending on your annual income, you may also be eligible for a 50% co-contribution from the government. It's an easy way to give your super a valuable boost.

4. Ask your partner to make contributions on your behalf 

Your partner may be able to claim a tax offset on the contributions made to your fund.

5. Get financial advice

We have experts who are ready to help. Get in touch if you want to learn how to get the most out of your super.

Want to learn more about women and super?

Check out these useful resources;

Some things to consider before you consolidate:

Insurance benefits - Before you consolidate, you should review your insurance arrangements. Most people generally have some form of default insurance cover with their super. When you consolidate your super, your insurance cover in the funds you consolidate will lapse and you'll be left with only one lot of insurance cover. You may want to check that the level of cover you have with Prime Super is adequate for your needs.

Exit Fees - Some funds charge exit or withdrawal fees if you try to move your money into another fund.

Women and super: the gender gap

Do you know how the average woman's super balance compares to the average man? Most women have less in their super due to the gender pay gap and because they are more likely than men to have career breaks to care for children. The difference can be significant.

See for yourself

Average super balance for a {age} year old
The average woman’s balance is $38,037 less
It’s never too early or too late to start closing the gap. Take action today to improve your balance at retirement.
* Mean superannuation balances. ASFA

Get the latest market updates

Subscribe to our monthly investment newsletter

Please acknowledge statement.