WA areas where men retire with almost double the women’s retirement pension

Western Australia has the largest gender pension gap in Australia, with some voters’ wives retiring nearly 60% less than men.

The biggest chasm is in the Forrest electorate, which stretches from Waroona to Augusta, where the median super balance for men is $ 83,400, compared to just $ 35,800 for women, data from the Australian Tax Office. analyzed by Industry Super, the nation’s largest pension lobby group. , shows.

Women in some areas of WA retire with almost 60% less retirement pensions than men. Credit:Attila Csaszar

Durack’s Nordic electorate, which includes most of the Wheatbelt, Mid West, Gascoyne, Pilbara and Kimberley regions, comes in second, with women retiring with less than half of the super men.

In Metropolitan Perth, voters encompassing the suburbs of Mandurah, Waroona, Cockburn, Fremantle, Melville and Armadale top the list as areas with the largest retirement gap, followed by Joondalup, Wanneroo, Lockridge and Tapping in the North.

WA has the largest gender gap in Australia, with the average woman retiring with 38% less money than men. It is also the state where women have the lowest average super balance after the Northern Territory with $ 45,200 compared to $ 72,800 for men.

The men and women of WA fall far behind the recommended balance of $ 545,000 for a comfortable retirement.

WA also tops the list as the state with the largest gender pay gap in the country, at nearly 23 percent, according to data from the Federal Gender Equality Agency on workplace. This translates into tens of thousands of dollars in retirement.

Time spent outside the labor market caring for children is one of the main issues affecting women’s superbalance, with childcare costs being a major barrier to re-entering the labor market, and the fact that social service sectors, where the workforce is dominated by women, are underfunded.

Source link

About Madeline Dennis

Check Also

South Korea to launch monetary tightening in Asia | Invest News

SEOUL (Reuters) – South Korea is set to be the first Asian economy to raise …