Your Five-Step Financial Makeover


Did you know…by salary sacrificing the cost of a pair of stilettos every month, you could have an extra $225,387* in total savings for your retirement!

Women don’t have to earn the big bucks or have completed a degree in economics to make the most out of their superannuation.  However, women continue to lag behind male counterparts in retirement balances.

On average, a woman’s super payout at retirement is 43% less than a man’s – at $112k compared to $198k, due to sustained pay inequality and family caring needs. Given divorce rates are climbing and women live (on average) five years longer than men, it’s clear women must become more engaged in protecting their retirement nest eggs to ensure they get the retirement they deserve.

The ATO has created the Five Step Super Check to help women make the most out of their super.

1. Check your super statements

–              Is your employer paying the correct rate (amount equal to at least 9.25% of your pay) each quarter?

–              Does your statement correctly show all contributions, insurance and fees?

2. Does your super statement have your tax file number?

–              If not, you’ll pay more tax, and it’s harder to keep track of current and previous super accounts.

3. Keep track with Superseeker to

–              Check your super accounts.

–              Find lost super, and/or; Transfer super to your preferred account.

4. You may be eligible for government contributions

–              A government co-contribution can boost your super.

–              See if you qualify and what you need to do at

5. Are you putting extra money into super?

–              Make extra payments into your super fund account

–              Salary sacrifice or make contributions from after-tax pay

*Based on a 30 year old woman investing $160  into a moderate fund and assuming 5% growth over 35 years.