- SMSF Association Media Release
The SMSF Association and the Financial Services Council (FSC) are joining forces to promote a day-long conference to examine the critical issue of why women retire with superannuation balances substantially lower than men.
The issue will be examined from all angles over eight sessions that will boast some of the best thinkers in the superannuation and wealth management industries in Australia. The latest figures show women retire, on average, with superannuation balances 46.6 per cent below that of men.
The Conference, being sponsored by the Commonwealth Bank, will be held in Sydney on 27 April.
SMSF Association Managing Director /CEO Andrea Slattery says this vitally important issue of women’s lower superannuation balances demands to be addressed, and the Association is delighted to be partnering with the FSC to achieve this end.
“It’s an issue that has long concerned the Association. We have actively worked to help women better understand their financial circumstances, fully aware of the fact that they often must deal with structural factors, such as broken work patterns caused by parenting responsibilities, that have far less impact on men’s capacity to save for retirement.
“But it’s not just an issue of addressing these structural issues, important as they are. It’s also to get women, especially those starting their working lives, to understand superannuation and wealth-building better than previous generations did.
“When you realise that 47% of the more than one million SMSF trustees are women, then the importance of achieving this goal becomes self-evident.”
FSC CEO Sally Loane says providing women with more information and better advice improves their financial resilience and well-being, and that of their families, businesses and communities.
“This event will outline and demonstrate the critical role we can play to engage and empower women, particularly young women starting their careers, and drive positive change through education, innovation and good business practice.”
To attend the conference, please click here.