How women can harness their super(annuation) power

19 August 2025

• AustralianSuper has seen a 10% rise in voluntary contributions from female members and a 15% increase in spousal contributions year-over-year.
• Additionally, the use of their calculators, online tools, and advice services by women has grown by 15% in the 2024-25 financial year. 
• Modeling indicates that a woman taking a five-year career break for childcare at age 30, working part-time for five years, and then returning to full-time work would retire with around $15,000 more due to the new Paid Parental Leave changes.

This Equal Pay Day, AustralianSuper is highlighting the cumulative, long-term impacts of pay inequity on working women’s retirement balances. 

While progress has been made, the gender super gap remains significant. Data from the Association of Superannuation Funds of Australia (ASFA)¹ shows that balances between men and women are relatively similar in the early working years and the gap begins to widen noticeably from age 30 onwards. By age 40-44, men have a median super balance of $101,231, compared to $74,066 for women – a difference of more than $27,000. This gap grows further through mid-life, peaking at $57,580 in the 55-59 age range, where men hold $186,255 and women hold $128,675.

Rose Kerlin, AustralianSuper’s Chief Member Officer, said the super gap isn’t just a number, it’s a reflection of the inequality that women still face across their working lives.

“What we’re really seeing with the super gap is how it grows during those years when many women take time out to care for children or move to part-time work. It’s a pattern that has a big impact on super balances down the track. Understanding this, helps us focus on the right solutions to support women through those important life stages and beyond,” Ms Kerlin said.

“As an employer, AustralianSuper is working to address the structural inequalities for our workforce that contribute to lower super balances for women at retirement. We know workplace gender equality is more than pay – it is creating policies, practices and procedures to enable all colleagues to thrive  – and we are committed to focusing on reducing our gender pay gap, as well as working with industry partners to address these inequalities across the sector.”

Despite these challenges, there are positive signs of growing financial engagement among Australian women, which has long-term benefits for their super savings. 

In the 2024-25 financial year, nearly 200,000  female AustralianSuper members made voluntary super contributions, a 10 per cent increase on the previous year. Additionally, more than 4,000 received spousal contributions, marking a 15 per cent increase compared to the 2023-24 financial year. 

Women are increasingly engaging with AustralianSuper’s calculators, online tools and advice services. In the 2024-25 financial year, more than 113,000 women accessed these resources, nearly 20 per cent more than the previous year. This growth reflects a more proactive approach to managing super among women. 

Supporting these efforts, government policy is evolving to better recognise the value of caregiving. Since 1 July 2025, superannuation is being paid on government-funded Paid Parental Leave. This reform will help women maintain their super balances, even when taking time out of paid work, leaving them thousands of dollars better off in retirement.

According to AustralianSuper modelling, a woman who takes a five-year career break from age 30 to care for her two children, and then returns to work part-time for five years before re-commencing full-time work, would retire with around $15,000 more in super under the new Paid Parental Leave changes.

“Policies like super on Paid Parental Leave  are crucial because they acknowledge the real economic impact of caregiving,” Ms Kerlin said.

While there is a lot of work still to do to close the gender super gap, AustralianSuper is sharing five key tips to help women increase their super confidence:

1. Stay informed and check your super regularly: Make it a habit to log in and review your super account. Knowing your balance, recent contributions and investment options helps you stay in control and spot any opportunities for growth.
2. Consolidate and contribute when you can: If you have multiple super accounts, consider bringing them together to avoid duplicate fees² and to simplify your super. Even small additional contributions³ when you’re able can make a big difference over time.
3. Use tools to plan ahead: Online calculators and projection tools can help you see how your super is tracking and what your retirement might look like. Setting realistic goals now makes it easier to make informed choices for the future.
4. Talk about super with your household: Whether you’re planning for children, time off work or retirement itself, it’s important to discuss super as a household. Sharing responsibilities, like considering spousal contributions or reviewing insurance, helps secure you and your household’s  financial futures.
5. Get trusted financial advice: Super can be complex and the right advice can help you make informed decisions. Many funds, including AustralianSuper, offer access to financial advice tailored to your goals, life stage and contribution options.

“Financial wellbeing underpins everything from independence to security later in life. Women deserve to retire with confidence, and with the right support, they absolutely can,” Ms Kerlin said.