The superannuation system is stacked against women because it fails to pay any attention to their working lives.
The royal commission into banking, superannuation and financial services shone a spotlight on the management fees of superannuation funds. But it did nothing to address how the scheme could work better for women.
Australian women have a distinctive work pattern over the course of their lives, one that is quite different to men’s.
Whether by choice or constraint, women in Australia manage their care responsibilities with part-time work. In fact, levels of full-time work for women have not increased at all over the past 40 years, despite the surge of women entering the labour market.