Bridging the Super Gap: Strategies for Women in Their 40s and 50s
For many women, your 40s and 50s can feel like a juggling act, managing a career, caring for kids, potentially supporting aging parents, and somewhere in between, trying to plan for your own future. But there’s another challenge often hiding in the background: the superannuation gap.
It's concerning to consider that on average, women retire with about 25% less super than men (Workplace Gender Equality Agency, 2024), and it shows up across every age group. In 2022, women aged 40–44 had an average super balance of $74,066 compared to $101,231 for men. By 55–59, the gap was $128,675 versus $186,255. At retirement age, women had $153,685 while men held $205,385 (ASFA, 2024). That difference doesn’t just look like numbers on a page, it's fewer lifestyle choices, less financial independence, and in many cases, a higher risk of poverty in retirement.
So, if you’re in your 40s or 50s, what can you do? The good news is it’s not too late.
Why the Super Gap Exists
It’s not about women making poor decisions. It’s about the realities of life and work:
Career breaks. Women spend more time out of the workforce, around six years compared to less than two for men (ABS, 2021). These breaks often come during key earning years and usually involve caring for children or family. That means six years of no employer contributions.
Part-time work. Nearly half of women aged 35–54 work part-time (WGEA, 2022). It offers flexibility and a better work-life balance, especially during caregiving years but comes at a cost as it means lower pay and lower super.
The pay gap. Despite progress, women still earn about 12% less than men on average (WGEA, 2024). Over decades, that adds up.
Health and early retirement. Women are more likely to retire early due to health challenges including menopause, chronic illness, or the cumulative toll of caregiving (NASEM, 2024).
Smart Moves to Boost Your Super
Here are a few strategies that can make a real difference, especially if you’re starting now:
Salary sacrifice. Putting even a little extra from your pre-tax income into super can really add up thanks to compounding (ATO, 2023).
Government co-contributions. If your income is under $62,488, the government could add up to $500 a year to your super when you make personal contributions (ATO, 2025).
Spouse contributions. Couples can share the load by splitting contributions, if your partner earns a low or no income, you may be able to contribute to their super and receive a tax offset of up to $540 per year. This helps boost their retirement savings while offering a tax benefit (Moneysmart, 2024).
Contribution splitting. If one partner has significantly higher super, you can transfer up to 85% of your concessional (pre-tax) contributions from one partner’s account to the other’s. This can help balance retirement savings between you and potentially manage tax more effectively over time (ATO, 2024).
Catch-up contributions. If your balance is under $500,000, you can use unused concessional caps from the last five years to play catch-up (ATO, 2024).
Why It Matters Now
The truth is that time is still on your side. Every dollar you add now has years to grow. And it’s not just about having a bigger number at retirement; it’s about having choices.
The choice to downsize (or not). The choice to travel. The choice to support your kids and grandkids without sacrificing your own independence.
Final Thoughts
The super gap isn’t just an individual issue, it’s a structural one. But that doesn’t mean you’re powerless. Small, consistent steps in your 40s and 50s can change the trajectory of your retirement.
Closing the gap isn’t only about money. It’s about ensuring dignity, independence, and freedom in the years ahead. And every woman deserves that.
Want to make sense of all this? I can help you figure out which of these strategies suit your situation and how to get the most out of your super. Contact me directly for personalised advice and a clear plan.