Women in Australia retire with approximately 42% less superannuation than men. But there are real, practical strategies that can meaningfully close this gap. Here are the most effective ways to boost your super at different life stages.
1. Check Your Current Fund’s Performance and Fees
Before adding more money to your super, make sure it is working hard for you:
- Compare your fund’s performance using the YourSuper comparison tool at the ATO website
- Check your total fees (admin fee + investment management fees) — aim for under 1% of balance for a well-run fund
- Low-fee, strong-performing industry super funds have historically outperformed retail funds on a net-of-fees basis
Switching to a better fund for someone with 20+ years to retirement can be worth tens of thousands of dollars — without contributing a single extra dollar.
2. Choose a Growth Investment Option
Women often tend toward more conservative investment options due to risk aversion — but for those with long time horizons (10+ years to retirement), a growth or high-growth option is generally more appropriate.
Historical returns (Australian super funds, 20-year average):
- Balanced (70% growth): ~6–7% per year
- High growth (90% growth): ~7–8% per year
- Conservative: ~4–5% per year
The difference compounds over decades — being too conservative is one of the most costly mistakes in super.
3. Salary Sacrifice
If you work full-time or part-time with an employer, salary sacrifice (pre-tax contributions) allows you to contribute more to super while reducing your taxable income:
- Contributions taxed at 15% (vs your marginal rate of 19%, 32.5%, 37%, or 45%)
- Reduces your income tax dollar-for-dollar
- Counts toward the concessional cap ($30,000 in FY2024–25, including employer SG)
Even sacrificing $100/fortnight can meaningfully increase your super at retirement.
4. Use Catch-Up Concessional Contributions
If your super balance is below $500,000 and you haven’t used your full concessional cap in prior years (unused amounts from the last 5 years), you can contribute more than the $30,000 cap in one year.
This is particularly valuable for women returning from parental leave or extended career breaks — you can make large catch-up contributions in high-earning years to offset the gap.
5. Personal After-Tax Contributions + Tax Deduction
If you are self-employed, a contractor, or have income that is not from an employer, you can make personal contributions and claim a tax deduction (treating them as concessional contributions). This requires lodging a Notice of Intent to Claim with your super fund.
6. Government Co-Contribution
If your income is below $58,445 and you make personal after-tax contributions:
- The government matches up to 50 cents per dollar
- Maximum co-contribution: $500 (for incomes ≤ $43,445)
- No application required — the ATO assesses automatically from your tax return
This is essentially free money into your super — even $500/year for 20 years becomes significant with compounding.
7. Low Income Super Tax Offset (LISTO)
If you earn below $37,000 from employment:
- The government refunds the 15% tax on your concessional contributions back into your super
- Maximum $500/year — paid automatically
8. Ask Your Partner for Spouse Contributions
If your partner earns more than you:
- They can contribute to your super from their after-tax income
- They may receive a spouse contribution tax offset of up to $540 if your income is below $37,000
- Even larger contributions (without offset) help equalise your super balances for tax-efficient retirement drawdown
9. Maintain Super During Career Breaks
During parental leave or career breaks:
- Contact your fund to maintain insurance cover (avoid PYS cancellation)
- Keep making small personal contributions if possible
- Review your investment option — don’t switch to conservative just because you’re not watching the market
10. Review Beneficiary Nominations
Ensure your super goes to the right person if you die — update binding nominations after major life events (children, relationship changes, separation).
For more: The Gender Super Gap, Spouse Contributions, Super and Motherhood. For advice on your situation, speak with a licensed financial adviser via MoneySmart.