What are some superannuation strategies for single mothers?

If you’re a single mother who isn’t in paid work the best thing you can do is ensure you’re in a super fund with very low fees, and good returns, and consider making extra contributions into your fund yourself if you’re able to.

What age can a female access their superannuation?

Anyone, male or female, can access their super tax-free at age 65 even without retiring. If you want to access your super before age 65 you need to reach your preservation age (between 60-65) and retire permanently from the workforce.

Why do women have less superannuation?

Women have less superannuation than men because they are far more likely to take time out of the paid workforce to raise children and do other caring roles, for example look after elderly parents. Also, women in the workforce receive less super than men because they’re often paid less or work in part-time roles.

Is superannuation compulsory for women?

Regardless if you’re male or female, superannuation is compulsory for all employees and has been since 1992 when it was first introduced.

Home Authors Serina Bird

Serina Bird

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Serina Bird is a proud frugalista who has amassed a multi-million dollar portfolio through frugal living and investing. She is the author of several books, including How To Pay Your Mortgage Off in 10 Years, The Joyful Frugalista and The Joyful Startup Guide. Serina is host of The Joyful Frugalista podcast, which is available on Spotify and Apple Podcasts. She is also the founder of The Joyful Business Club.

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