Australian Institute of Superannuation Trustees
Increasing the Superannuation Guarantee to 12% as currently legislated is key to improving the retirement outcomes for Australian women, the Australian Institute of Superannuation Trustees (AIST) said today.
AIST CEO Eva Scheerlinck said lifting compulsory super contributions was necessary to address the unique challenges that women face when it comes to paid work and career breaks.
"Currently, an estimated 40 per cent of single women are retiring in poverty and older women are the fastest growing cohort of homeless people," Ms Scheerlinck said. "Leaving super at 9.5 per cent will simply condemn more women to financial hardship in retirement at a time when many do not have safety net of home ownership relied upon by previous generations."
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