Australian Women are less retire-ready: Survey

Single females are said to be 30 per cent less retire-ready than men due to longer life expectancies, lower income levels during their careers, and career breaks during child bearing years, the CommBank Retire Ready Index[1] showed.

The index revealed the average single female could expect to attain personal retirement savings equivalent to 47 per cent of her comfortable retirement requirements above the age pension, or just $35,000 a year.

On the other hand, the average single male could retire with savings equivalent to 78 per cent of his comfortable retirement needs above the Age Pension, or $39,000 per annum.

The gap between males and females with the same income is still higher for females because of their longer life expectancy.


We believe the key lesson to learn from this survey is that it’s never too late to obtain quality financial advice.

Good advice can always enhance your financial wellbeing.

So, if you need help with your superannuation, investments, mortgage, life insurance and/or retirement planning, seek help now from one of our advisers.
If you already have an adviser, but you know someone who needs help, invite them to see your financial adviser.


by the no

[1] Reported in Money Management magazine 27 August 2015.

Disclaimer: This article is not legal advice and should not be relied on as such. Any advice in this document is general advice only and does not take into account the objectives, financial situation or needs of any particular person. You should obtain financial advice relevant to your circumstances before making investment decisions. Where a particular financial product is mentioned you should consider the Product Disclosure Statement before making any decisions in relation to the product. Whilst every care has been taken in the preparation of this information, Australian Unity Personal Financial Services Ltd does not guarantee the accuracy or completeness of the information. Australian Unity Personal Financial Services Ltd does not guarantee any particular outcome or future performance. Australian Unity Personal Financial Services Ltd is a registered tax (financial) adviser. Any views expressed are those of the author and do not represent the views of Australian Unity Personal Financial Services Ltd. If you intend to rely on any tax advice in this document you should seek advice from a tax professional. Australian Unity Personal Financial Services Ltd ABN 26 098 725 145, AFSL & Australian Credit Licence No. 234459, 114 Albert Road, South Melbourne, VIC 3205. This document produced in April 2016. © Copyright 2016