Women retire with 47% less super

The 14 per cent gender pay gap is part of the reason Australian women retire with 47 per cent less superannuation than men, according to First State Super.

Marking Equal Pay Day on Wednesday, the fund’s chief executive, Deanne Stewart said more than two-thirds of First State Super’s members were women and they needed to work an extra 59 days a year to reach the same pay as their male colleagues.

“We know there is a very real desire across Australian workplaces to achieve greater diversity, inclusion and equality,” she said.

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“Sometimes though it is difficult to know just where to start.”

The fund also launched an ebook and video series that discussed equality and diversity to highlight steps organisations could take to help their female workforce.

“We hope our ebook and video series provides some practical and achievable examples of what organisations can do to move from intention to action in their workplace.,” Stewart said.

“The key really is to simply take the first step and to commit to creating a diverse and inclusive culture, where all employees can be their best.”

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