Women and superannuation: Tips to help close the super gap

The superannuation gap between men and women

The average super balance for women over 15 is $150,922, while for men it’s $189,892, according to ASFA data. That’s a superannuation gap of 20.5%.
According to Finder research, the average woman would have to add an extra $236 per month into her superannuation fund, or alternatively, work an extra 11 years, in order to retire with the same super balance as the average man.

Average super balance for women

Women have a lower super balance than men at every single age group. The table below shows the median super balance for men and women at each age.

Why women have less super

• The gender pay gap: In the private sector men on average earn 21.8% more than women, according to government data. So for every $1 a man makes, women earn 78 cents (on average)This means women are earning less super from their employer than men.
• Raising children: Women take far more time out of paid work to look after children than men (3 times the amount!). Finder research found, on average, women took 9.1 months of maternity leave per child compared to 3 months of paternity leave for men.
• Lower paid roles: Women are more likely to be in lower-paid, part-time or casual roles compared to men.
• Unpaid caring work: Many women reduce their paid work hours or leave the paid workforce entirely to care for elderly, ageing parents.
• Menopause/perimenopause: 1 in 3 women reported menopause symptoms had adversely influenced their career prospects or earning capacity

"According to the Australian Institute of Health and Welfare, women represent 72% of primary unpaid carers. It's vital that when a woman is caring for others for free, her super is being topped up by her partner, or spouse, or even the government."

Pascale Helyar-Moray

Superannuation expert

Superannuation strategies for women: how to boost your super

Here are some ways you can help your super balance grow, even if you’re not currently in paid work.

Compare super funds

Make sure your super fund is set up for success - this means choosing one with low fees and high returns. If you take time out of the workforce and don’t contribute to your fund for an extended period of time, high fees will quckly erode your balance.

As a general rule, annual fees that are 1% or less of your balance is what you’re looking for. When looking at the returns, make sure to look at long-term performance (5-10 years).

It’s also worth checking if you’re got more than one fund open in your name and, if you do, consolidate them (here’s how to consolidate your super in 4 steps).

Expert insight

"It’s really important to set your super into a growth-orientated strategy instead of a balanced or low-risk one. This allows you to make the most of that time you’ve got ahead of you. If you’re getting even just an extra 1% return by taking more risk investing in growth assets, that’s compounding over decades and will make tens of thousands of dollars difference to your retirement balance."

Karen Eley

Editorial Review Board

Make extra contributions while you can

While you’re earning a regular income and are in a position to do so, try to prioritise making extra contributions into your super. The easiest way to do this is via salary sacrifice, which means a portion of your pay will go directly into your super.

If you plan on having children in the future and taking time out of work, making extra contributions before then will help give your balance a bit of a headstart. Even if you’re not planning on this, you might still find yourself out of the workforce (and therefore not earning super contributions) for unexpected reasons, such as caring for elderly parents or a spouse.

You don’t need to contribute large amounts for it to be beneficial. Even an extra $10 or $20 a week will help your balance grow thanks to the beauty of compound returns over many years.

Consider the government co-contribution

The super co-contribution is available to those who earn less than $60,400 per year. If you make a voluntary contribution into your super, the government will make its own contribution into your super as well.

This initiative is designed to help low income earners boost their super balances, and is particularly beneficial to women who are more likely to be in lower paid, part-time or casual roles.

Get your partner to contribute to your fund

There are 2 ways your partner can add to your super. They can make a contribution into your super fund from their post-tax income at any time (similar to a standard bank transfer). Or, they can split their own pre-tax super contributions with you (this includes those that their employer pays them).
Both options allow your partner to add money into your super fund to help boost your balance while you may not be receiving super contributions yourself.

Use cash back apps for your super

The Grow My Money app is a great way to earn money directly into your super even if you’re not currently in paid work. The app allows you to shop online at various retailers ( popular options include Woolworths, Harris Farm, Target, Myer and Priceline) and earn cash back which is sent straight into your super.
This doesn’t cost you anything - you’re simply purchasing things you normally would anyway (like groceries) via the platform, and earning money for your super at the same time.

Have a plan for parental leave

If you’re planning to have kids, check what your employer's paid parental leave policy is and whether or not you’re paid any super. Fortunately, super will be paid on all government parental leave payments as of 1 July 2025.

Plan ahead for parental leave

"Finder research shows the average woman is 31 years old when she gives birth to her first child. The parental leave she takes in this period means she misses out on $44,906 in income, based on average full-time wages, and $4,580 in superannuation paid by her employer. After investment returns are factored in, this lost super money balloons to over $46,979 in lost wealth come retirement.

Discuss parental leave with your partner as early as possible, if you are partnered. If parental leave was split evenly between partners (6.45 months each), the amount of income and superannuation that women lose would almost halve. "

Sarah Megginson

Personal finance expert + media spokesperson

What’s the best super fund for women?

There aren’t super funds that are specifically best for women instead of men. When picking the best super fund, the same principals apply regardless of gender.

The best super fund for you will be one that:

• Has low fees (the lower the better!)
• High long-term returns
• An investment option that aligns with your stage of life (most people under the age of 50 will benefit from being in a growth or high-growth option)

For help choosing, take a look at Finder’s top super fund picks.

Frequently asked questions

• What are some superannuation strategies for single mothers?

  If you’re a single mother who isn’t in paid work the best thing you can do is ensure you’re in a super fund with very low fees, and good returns, and consider making extra contributions into your fund yourself if you’re able to.

• What age can a female access their superannuation?

  Anyone, male or female, can access their super tax-free at age 65 even without retiring. If you want to access your super before age 65 you need to reach your preservation age (between 60-65) and retire permanently from the workforce.

• Why do women have less superannuation?

  Women have less superannuation than men because they are far more likely to take time out of the paid workforce to raise children and do other caring roles, for example look after elderly parents. Also, women in the workforce receive less super than men because they’re often paid less or work in part-time roles.

• Is superannuation compulsory for women?

  Regardless if you’re male or female, superannuation is compulsory for all employees and has been since 1992 when it was first introduced.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 651 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living