AMP’s Melinda Howes has urged women to take back control by engaging with their super. (Source: Jane Dempster\/Getty) <\/p>\n
There is a sharp divide in how financially confident<\/a> Australians are feeling about their golden years in retirement<\/a>. Women are significantly more worried about retirement<\/a> than men, and with persistent gender and superannuation gaps, it\u2019s not hard to see why.<\/p>\n Roughly seven in 10 women are worried about having enough super for their retirement<\/a>, according to new findings from AMP. That\u2019s compared to 56 per cent of men.<\/p>\n Women are retiring with far less superannuation, with the latest Australian Taxation Office (ATO) data<\/a> showing men aged 60 to 64 had an average balance of $395,852, compared to women in the same age bracket with $313,360. That\u2019s a $82,492 gap.<\/p>\n RELATED<\/p>\n AMP group executive of superannuation and investments, Melinda Howes, said women were found to be more anxious than men on every measure.<\/p>\n \u201cIt\u2019s no surprise given they retire with smaller super balances after years of pay gaps, part-time work and time out caring for others,\u201d she said.<\/p>\n \u201cStructural change is happening, from stronger pay-equity policies to reforms that help boost women\u2019s super, but it\u2019s not enough on its own.\u201d<\/p>\n The super gap becomes more noticeable in a person\u2019s 30s onwards, with men aged 30 to 34 having an average balance of $55,690, compared to women with $46,586.<\/p>\n Last year, the government introduced superannuation on parental leave payments<\/a>, which ASFA estimates could lead to $7,200 more at retirement for a woman taking 24 weeks, rising to $7,800 when the scheme is extended to 26 weeks.<\/p>\n