New research has found that women have an average super balance of $92,000 at retirement – 40% less than the average male retiree, with $154,000.

The new figures, from Roy Morgan Research, show the gap between genders starts to form in the 30-34 age range.

The decline in balances for women also starts earlier than for men, suggesting that women are retiring earlier and are beginning to draw down their funds at a younger age than men.

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This follows the results of the Suncorp-ASFA Super Attitudes Survey 2012, which revealed that taking just two years out of the workforce to have children can leave women up to $50,000 worse off in retirement.

Researchers at Suncorp Life found that to make up the "baby deficit", women needed to make an additional 1% super contribution for every two years that spent out of the workforce – for the rest of their working life.

Making a general comment on the state of women’s superannuation, Adrienne Rush, CFP at Bendigo and Adelaide Bank, said that one fifth of Australian female small Business owners do not have a super fund. Rush added that:

  • At 65 the average woman’s super balance is $112,000
  • A 5 year career break means $45,200 less in savings than taking no career break
  • A woman who retires at 65 needs to save $55,300 more than a man due to her increased longevity